An Inframarginal Analysis of the Heckscher-Olin Model with Transaction Costs and Technological Comparative Advantage
In the paper we introduce technological comparative advantage and transaction costs into the Heckscher-Olin (HO) model and refine the HO theorem, the Stolper-Samuelson theorem, the Rybczynski theorem, and factor equalization theorem. The refined core theorems can be used to accommodate recent empirical evidence that is at odds with the core theorems.
|Date of creation:||Apr 1999|
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