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Search Friction and Costly Entry in the Specific Factors Model

Author

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  • Nancy H. Chau

Abstract

In this article, I echo Jones (1965) and sketch a model rooted in search frictions and costly entry to demonstrate by example how central features of simple general equilibrium models can show up as ‘retranslated properties in diverse areas’. By uncovering and imparting popular understanding about these central features of simple general equilibrium models, the legacy of Professor Jones’s contributions transcends diverse disciplines in economics, extending well beyond the theory of international trade. JEL Codes: D5, F1, J6

Suggested Citation

  • Nancy H. Chau, 2025. "Search Friction and Costly Entry in the Specific Factors Model," Foreign Trade Review, , vol. 60(2), pages 190-204, May.
    • Handle: RePEc:sae:fortra:v:60:y:2025:i:2:p:190-204
    DOI: 10.1177/00157325241255749
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    More about this item

    Keywords

    Two-sector models; search friction; costly entry; Professor Ronald Jones;
    All these keywords.

    JEL classification:

    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • F1 - International Economics - - Trade
    • J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers

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