The Armington General Equilibrium Model: Properties, Implications and Alternatives
The purpose of this paper is to contrast an Armington-based model with the traditional Heckscher-Ohlin framework familiar to textbook trade theory. The models concentrate on different aspects of the gains from trade, and both have deficiencies. The paper argues that by combining both frameworks, the hybrid Arminton-Heckscher-Ohlin model inherits the strengths of both models. The views expressed in this paper are those of the staff involved and do not necessarily reflect those of the Productivity Commission.
|Date of creation:||Feb 2008|
|Date of revision:|
|Publication status:||Published by the Productivity Commission, Australia.|
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Web page: http://www.pc.gov.au/
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