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Factor Content Functions and the Theory of International Trade

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  • Neary, J Peter
  • Schweinberger, Albert G

Abstract

This Paper introduces the concepts of direct and indirect factor trade utility functions and uses them to derive Marshallian and Hicksian factor content functions, which express the quantities of factors embodied in net exports as a function of the economy's factor prices and endowments. The properties of these functions are discussed and they are used to derive a number of new results. In particular, it is shown that, in certain circumstances, the existence of gains from trade is necessary and sufficient for the Heckscher-Ohlin theorem to hold in its factor content form.

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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 3.

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Date of creation: Jan 1984
Date of revision:
Handle: RePEc:cpr:ceprdp:3

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Related research

Keywords: Factor Content Functions; Factor Trade Utility Functions; Gains from Trade; Heckscher-Ohlin Theorem;

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Citations

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Cited by:
  1. Gilroy, Bernard Michael, 1991. "Faktorgehalt und internationaler Handel
    [Factor content and international trade]
    ," MPRA Paper 21037, University Library of Munich, Germany.
  2. Devereux, John & Connolly, Michael, 1996. "Commercial policy, the terms of trade and the real exchange rate revisited," Journal of Development Economics, Elsevier, vol. 50(1), pages 81-99, June.
  3. Anderson, James E & Neary, J Peter, 1998. "The Mercantilist Index of Trade Policy," CEPR Discussion Papers 2044, C.E.P.R. Discussion Papers.
  4. J.P. Neary, 1997. "Pitfalls in the Theory of International Trade Policy: Concertina Reforms of Tariffs and Subsidies to High Technology Industries," CEP Discussion Papers dp0346, Centre for Economic Performance, LSE.
  5. Richard B. Freeman, 1995. "Are Your Wages Set in Beijing?," Journal of Economic Perspectives, American Economic Association, vol. 9(3), pages 15-32, Summer.
  6. Pantzios, Christos J. & Taylor, Timothy G., 1998. "Trade Liberalization And Japanese Agricultural Import Policies," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 23(02), December.
  7. Daniel M. Bernhofen, . "The Empirics of General Equilibrium Trade Theory: What Have We Learned?," Discussion Papers 10/24, University of Nottingham, GEP.
  8. Daniel Bernhofen, 2009. "Predicting the pattern of international trade in the neoclassical model: a synthesis," Economic Theory, Springer, vol. 41(1), pages 5-21, October.
  9. Flôres Junior, Renato Galvão, 2008. "Are CGE Models Still Useful in Economic Policy Making?," Economics Working Papers (Ensaios Economicos da EPGE) 674, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
  10. J. Peter Neary, 2000. "International Trade and the Environment - Theoretical and Policy Linkages," Working Papers 200018, School Of Economics, University College Dublin.

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