The Heckscher-Ohlin Model as an Aggregate

J. Peter Neary

Chapter 4 in Demand, Equilibrium and Trade, 1984, pp 57-76 from Palgrave Macmillan

Abstract: Abstract The opening quotation reflects the widespread view that the Heckscher-Ohlin model of international trade, with its emphasis on sectoral factor intensities, cannot fruitfully be used as a basis for detailed predictions in models of higher dimension than the textbook two-factor, two-commodity case. The purpose of the present chapter is not to dispute this viewpoint but rather to suggest that there nevertheless exists a method of aggregation that enables a limited role to be salvaged from the two-by-two HeckscherOhlin model as a predictor of comparative statics responses in more general models.

Date: 1984
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DOI: 10.1007/978-1-349-06358-1_4

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