The Four Core Theorems

Giancarlo Gandolfo

Chapter Chapter 5 in International Trade Theory and Policy, 2014, pp 103-108 from Springer

Abstract: Abstract The Heckscher-Ohlin theorem, together with the factor-price-equalization theorem and two additional theorems (the Stolper-Samuelson theorem and the Rybczynski theorem), are said to constitute the four core theorems of the traditional theory of international trade. The Heckscher-Ohlin theorem and the factor-price-equalization theorem have been treated in Chap. 4 ; here we shall examine the other two. It is important to note that they are general theorems, in the sense that they also hold for a closed economy; but we shall be concerned with their ultimate impact on open economies.

Keywords: Equilibrium Point; Relative Price; Excess Demand; Traditional Theory; Factor Endowment (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/978-3-642-37314-5_5

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