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Factor substitution and factor intensities in models with more factors than goods

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  • Siu‐kee Wong

Abstract

This paper considers the commodity prices–factor prices relation in models with more factors than consumption goods. Under some simple factor substitutability assumptions, many results in the n × n cases have counterparts in the l × n cases. The proportional price changes of the “middle factors” will be trapped between those of the “extreme factors”. A weak and a strong Stolper–Samuelson theorem can also be proven. If the numbers of goods and perfectly complementary factors are equal and the production functions have the nested constant elasticity of substitution form, two of the complementary factors would have the most extreme relative price changes, regardless of the factor intensities.

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  • Siu‐kee Wong, 2005. "Factor substitution and factor intensities in models with more factors than goods," International Journal of Economic Theory, The International Society for Economic Theory, vol. 1(4), pages 277-297, December.
    • Handle: RePEc:bla:ijethy:v:1:y:2005:i:4:p:277-297
    DOI: 10.1111/j.1742-7363.2005.00017.x
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