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Generalizing the Stolper–Samuelson Theorem: A Tale of Two Matrices

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  • Peter Lloyd

Abstract

Past attempts to generalize the Stolper–Samuelson theorem have used a matrix of real income terms which are sufficient but not necessary to define a change in utility. One can define a second matrix of terms which are necessary and sufficient for a change in indirect utility. Using this matrix, the paper extends the Stolper–Samuelson theorem to a model of any dimensions and to households which have diversified ownership of factors. The theorem states that there is a positive and a negative element in every row and every column of the matrix showing household responses to changes in goods prices.

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  • Peter Lloyd, 2000. "Generalizing the Stolper–Samuelson Theorem: A Tale of Two Matrices," Review of International Economics, Wiley Blackwell, vol. 8(4), pages 597-613, November.
    • Handle: RePEc:bla:reviec:v:8:y:2000:i:4:p:597-613
    DOI: 10.1111/1467-9396.00244
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    Cited by:

    1. Pamela Coke Hamilton & Yvonne Tsikata & Emmanuel Pinto Moreira, 2009. "Accelerating Trade and Integration in the Caribbean : Policy Options for Sustained Growth, Job Creation, and Poverty Reduction," World Bank Publications - Books, The World Bank Group, number 2652, December.
    2. Kym Anderson, 2005. "Agricultural trade reform and poverty reduction in developing countries," Chapters, in: Sisira Jayasuriya (ed.), Trade Policy Reforms and Development, chapter 9, Edward Elgar Publishing.
    3. Francois, Joseph & Rojas-Romagosa, Hugo, 2011. "Household inequality, social welfare, and trade," Journal of Development Economics, Elsevier, vol. 96(2), pages 422-431, November.
    4. W. Max Corden & Sisira Jayasuriya, 2006. "Distinguished Fellow of the Economic Society of Australia, 2005: Peter Lloyd," The Economic Record, The Economic Society of Australia, vol. 82(256), pages 77-81, March.
    5. David Greenaway & Douglas Nelson, 2010. "The Politics of (Anti-)Globalization: What do we Learn from Simple Models?," Chapters, in: Noel Gaston & Ahmed M. Khalid (ed.), Globalization and Economic Integration, chapter 4, Edward Elgar Publishing.
    6. Bittencourt, Maurício Vaz Lobo, 2003. "Does The Stolper-Samuelson Theorem Hold With Less Trade Distortion?: A Computable General Equilibrium," 2003 Annual meeting, July 27-30, Montreal, Canada 22173, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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