Bubble Diagrams in Trade Theory

Ronald Jones

Chapter 9 in International Trade Theory and Competitive Models:Features, Values, and Criticisms, 2018, pp 137-152 from World Scientific Publishing Co. Pte. Ltd.

Abstract: “Bubble” diagrams are quite useful in revealing some of the properties found in the competitive models of international trade. These diagrams use circles (bubbles) to indicate commodity outputs and connecting lines to indicate factor inputs. Models such as the 2×2 and n×n Heckscher–Ohlin models as well as the 3×2 (and extensions) Specific-Factors model are discussed. For example, a model with some factor mobility between countries (say capital into a foreign enclave) is discussed for both model types. As well, close analogies are made to issues in labor economics in which both skilled and unskilled labor are used as inputs.

Keywords: International Trade Theory; Models; Competitive Markets (search for similar items in EconPapers)
JEL-codes: R10 (search for similar items in EconPapers)
Date: 2018
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Journal Article: Bubble Diagrams in Trade Theory (2013)
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