Factor Price Equalization when the World Equilibrium is not Unique

Murray Kemp

Review of Development Economics, 2001, vol. 5, issue 2, 205-210

Abstract: It is shown that, whatever the multiplicity of the integrated world equilibrium, (i) factor prices are equalized if and only if the distribution of primary factors between trading countries can be represented by a point in or on the boundary of a certain convex subset of Rm, where m is the number of primary factors, and (ii) the likelihood of factor price equalization is independent of the multiplicity of the equilibrium.

Date: 2001
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/1467-9361.00118

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:bla:rdevec:v:5:y:2001:i:2:p:205-210

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=1363-6669

Access Statistics for this article

Review of Development Economics is currently edited by E. Kwan Choi

More articles in Review of Development Economics from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().