A 'Live' Version of the Specific Factors Model in Excel
We present a numerical version of the specific factors model of production/trade in a small economy, built in Excel. The model features the most common graphical devices used to explain the model properties. It differs from earlier work in that the solution is embedded in the sheet, making the use of the Solver add-in unnecessary. The equilibrium values and graphics respond instantly to changes in parameters/exogenous variables. The model can be used to demonstrate the usual properties (price-factor price relations, etc.) of the specific factors model.
|Date of creation:||11 Oct 2009|
|Date of revision:||11 Oct 2009|
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Web page: http://huntsman.usu.edu/economicsandfinance/
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- John Gilbert, 2009.
"A 'Live' Version of the HOS Model in Excel,"
200902, Utah State University, Department of Economics and Finance, revised 16 Jun 2009.
- Soumaya M. Tohamy & J. Wilson Mixon, 2003. "Lessons from the Specific Factors Model of International Trade," The Journal of Economic Education, Taylor & Francis Journals, vol. 34(2), pages 139-150, January.
- John Gilbert & Reza Oladi, 2011. "Excel Models for International Trade Theory and Policy: An Online Resource," The Journal of Economic Education, Taylor & Francis Journals, vol. 42(1), pages 95-95, January.
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