A Note on Shibata's Second Neutrality Theorem in an International Trade Model

Kazuyuki Nakamura

International Economic Journal, 2012, vol. 26, issue 2, 219-228

Abstract: The present note reconsiders Shibata's second neutrality theorem in a model that consists of two small countries, two tradable goods, and two primary factors of production. We demonstrate that the second neutrality theorem is valid under certain conditions; that is, to mitigate the negative effects of public bads, the governments must have direct control over the factors of production. Otherwise, the theorem does not hold in general.

Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:taf:intecj:v:26:y:2012:i:2:p:219-228

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DOI: 10.1080/10168737.2012.688517

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