The Lens Condition with Two Factors
We give a simple, constructive proof that the lens condition implies the factor-price equalization condition, when there are only two factors. Taking stock of the sufficient conditions under which the lens condition implies the FPE condition, we have the conditions of two factors or two goods or two countries or the condition that the rank of the factor-use matrix is equal to the number of goods. We show that in an essential sense, there are no other such conditions.
|Date of creation:||2001|
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- Demiroglu, U. & Yun, K.K., 1997.
"The Lens Conditions for factor Price Equalization,"
404, Research Seminar in International Economics, University of Michigan.
- Xiang, Chong, 2001.
"The sufficiency of the 'lens condition' for factor price equalization in the case of two factors,"
Journal of International Economics,
Elsevier, vol. 53(2), pages 463-474, April.
- Xiang, C., 1999. "The Sufficiency of the "Lens Conditions" for Factor Price Equalization in the Case of Two Factors," Working Papers 434, Research Seminar in International Economics, University of Michigan.
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