Search Friction and Costly Entry in the Specific Factors Model

Nancy H. Chau

Foreign Trade Review, 2025, vol. 60, issue 2, 190-204

Abstract: In this article, I echo Jones (1965) and sketch a model rooted in search frictions and costly entry to demonstrate by example how central features of simple general equilibrium models can show up as ‘retranslated properties in diverse areas’. By uncovering and imparting popular understanding about these central features of simple general equilibrium models, the legacy of Professor Jones’s contributions transcends diverse disciplines in economics, extending well beyond the theory of international trade. JEL Codes: D5, F1, J6

Keywords: Two-sector models; search friction; costly entry; Professor Ronald Jones (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:sae:fortra:v:60:y:2025:i:2:p:190-204

DOI: 10.1177/00157325241255749

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