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Necessary and sufficient conditions for factor price equalization

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  • BLACKORBY, Ch.
  • SCHWORM, W.
  • VENABLES, A.

Abstract

Although models with factor price equalization are used frequently in both theoretical and applied research in international economics, only sufficient conditions for factor price equalization have been presented in the literature. In this paper, the authors present necessary and sufficient conditions for factor price equalization under quite general assumptions about the technologies of different countries. The necessary and sufficient conditions they derive are consistent with joint production, decreasing returns to scale, and substantive differences in the technologies and endowments of different countries. The authors' results enable them to reconcile the classical approach and the integrated equilibrium approach to factor price equalization. Copyright 1993 by The Review of Economic Studies Limited.

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Bibliographic Info

Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 1986047.

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Date of creation: 01 Jan 1986
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Handle: RePEc:cor:louvco:1986047

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Cited by:
  1. R. Falvey,, . "Trade Liberalization and Factor Price Convergence," Discussion Papers 96/17, University of Nottingham, CREDIT.
  2. Xiang, C., 1999. "The Sufficiency of the "Lens Conditions" for Factor Price Equalization in the Case of Two Factors," Working Papers 434, Research Seminar in International Economics, University of Michigan.
  3. Falvey, Rod & Kreickemeier, Udo, 2005. "Globalisation and factor returns in competitive markets," Journal of International Economics, Elsevier, vol. 66(1), pages 233-248, May.
  4. Shogren, Jason & Margolis, Michael, 2002. "Unprotected Resources and Voracious World Markets," Discussion Papers dp-02-30, Resources For the Future.
  5. Rick van der Ploeg & Anthony J Venables, 2010. "Absorbing A Windfall Of Foreign Exchange: Dutch disease dynamics," OxCarre Working Papers 052, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
  6. Gordon H. Hanson & Matthew J. Slaughter, 1999. "The Rybczynski Theorem, Factor-Price Equalization, and Immigration: Evidence from U.S. States," NBER Working Papers 7074, National Bureau of Economic Research, Inc.
  7. Andreas Pfingsten & Reiner Wolff, 2009. "Factor Supply Changes in Small Open Economies: Rybczynski Derivatives under Increasing Marginal Costs," Finnish Economic Papers, Finnish Economic Association, vol. 22(1), pages 9-20, Spring.

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