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Indeterminancy in a Dynamic Heckscher-Ohlin Model


  • Kazuo Nishimura

    (Kyoto Institute of Economic Research (KIER), Kyoto University, Japan)

  • Koji Shimomura

    (Research Institute for Economics & Business Administration (RIEB), Kobe University, Japan)


We show that even under socially constant returns to scale indeterminacy, i.e., a continuum of dynamic general equilibrium paths converging to a common steady state, can arise in a dynamic Heckscher-Ohlin model with production externality and endogenous time preference in which production is incompletely specialized.

Suggested Citation

  • Kazuo Nishimura & Koji Shimomura, 1999. "Indeterminancy in a Dynamic Heckscher-Ohlin Model," Discussion Paper Series 102, Research Institute for Economics & Business Administration, Kobe University.
  • Handle: RePEc:kob:dpaper:102

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    References listed on IDEAS

    1. Lewis, Jeffrey D. & Robinson, Sherman & Wang, Zhi, 1995. "Beyond the Uruguay Round: The implications of an Asian free trade area," China Economic Review, Elsevier, vol. 6(1), pages 35-90.
    2. Martin,Will & Winters,L. Alan (ed.), 1996. "The Uruguay Round and the Developing Countries," Cambridge Books, Cambridge University Press, number 9780521586016, March.
    3. Brown, Drusilla K. & Deardorff, Alan V. & Stern, Robert M., 1996. "Computational Analysis of the Economic Effects of an East Asian Preferential Trading Bloc," Journal of the Japanese and International Economies, Elsevier, vol. 10(1), pages 37-70, March.
    4. Ippei YAMAZAWA, 1996. "APEC's NEW DEVELOPMENT AND ITS IMPLICATIONS FOR NONMEMBER DEVELOPING COUNTRIES," The Developing Economies, Institute of Developing Economies, vol. 34(2), pages 134-137, June.
    5. Hertel, Thomas, 1997. "Global Trade Analysis: Modeling and applications," GTAP Books, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University, number 7685.
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    More about this item


    Mathematical analysis; International trade; International economy;

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies


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