Dynamic two-country Heckscher-Ohlin model with externality
العنوان: | Dynamic two-country Heckscher-Ohlin model with externality |
---|---|
المؤلفون: | Kazumichi Iwasa, Kazuo Nishimura |
المصدر: | International Journal of Economic Theory. 10:53-74 |
بيانات النشر: | Wiley, 2014. |
سنة النشر: | 2014 |
مصطلحات موضوعية: | Microeconomics, Economics and Econometrics, Bond, Economics, Production (economics), Heckscher–Ohlin model, Capital good, Excess demand function, Autarky, Mathematical economics, Free trade, Externality |
الوصف: | We extend a dynamic Heckscher–Ohlin model with production externality presented in recent work by Nishimura and Shimomura by assuming a consumable capital good. Following work by Bond, Iwasa, and Nishimura, we define a steady-state excess demand function and derive the locus of home and foreign capital stocks that are consistent with a steady-state equilibrium under free trade. Also, we examine the relationship between externality and local dynamics in autarky or under free trade, which includes a phase diagram analysis. Then we show that opening trade can generate expectation-driven fluctuations in a world trade market. |
تدمد: | 1742-7355 |
الوصول الحر: | https://explore.openaire.eu/search/publication?articleId=doi_________::d449e2d8a50285cf9923985250e5b430Test https://doi.org/10.1111/ijet.12027Test |
حقوق: | CLOSED |
رقم الانضمام: | edsair.doi...........d449e2d8a50285cf9923985250e5b430 |
قاعدة البيانات: | OpenAIRE |