Chapter 10 Specific Factor Models and Dynamics in International Trade

Yunfang Hu, Kazuo Nishimura and Koji Shimomura

A chapter in Contemporary and Emerging Issues in Trade Theory and Policy, 2008, pp 191-207 from Emerald Group Publishing Limited

Abstract: Based on the Jones (1971) model, we construct two dynamic models of international trade in which the rate of time preference is either constant or time-varying. The main purpose is to study whether and under what conditions the results derived in the Jones model still hold in the dynamic framework. It is shown that the results of dynamic models may be similar or different to those obtained in the static model. For example, it is possible that, in both static and dynamic models, an increase in the commodity price raises this commodity's output and the return to the specific factor in this sector. However, the effects on the wage rate may be different due to the factor accumulation impact in the dynamic framework.

Keywords: Dynamics; international trade; specific-factor model (search for similar items in EconPapers)
Date: 2008
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.101 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.101 ... 1574-8715(08)04010-4
https://www.emerald.com/insight/content/doi/10.101 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:fegzzz:s1574-8715(08)04010-4

DOI: 10.1016/S1574-8715(08)04010-4

Access Statistics for this chapter

More chapters in Frontiers of Economics and Globalization from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().