HECKSCHER–OHLIN THEORY: HAS IT A FUTURE?

Murray Kemp

The Singapore Economic Review (SER), 2002, vol. 47, issue 02, 193-198

Abstract: It is noted that Heckscher-Ohlin general-equilibrium theory is based on three little discussed assumptions (representative agents, costless reallocation of productive factors, and the existence of autarkic equilibria) and it is argued that the theory is highly sensitive to the relaxation of any one of the assumptions.

Keywords: Heckscher-Ohlin theory; Representative agents (search for similar items in EconPapers)
Date: 2002
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DOI: 10.1142/S021759080200050X

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