Factor price equalization in a world of many trading countries | Macquarie University ResearchOnline

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Title: Factor price equalization in a world of many trading countries
Related: Review of international economics, Vol. 14, Issue 4, p.675-677
DOI: 10.1111/j.1467-9396.2006.00591.x
Publisher: Blackwell Publishing
Date: 2006
Author/Creator: Kemp, Murray C
Description: Conditions sufficient for factor price equalization within any non-trivial subset of trading countries are provided. The conditions are that (a) the factor endowment ratios of countries in the subset are all bounded by the factors-in-use ratios in an equilibrium of the hypothetical world economy in which factors are perfectly mobile within the subset, and that (b) in dimensions higher than two, 'either' the rank of the factors-in-use matrix is 2 'or' products do not outnumber factors and the factors-in-use matrix is of full rank.
Description: 3 page(s)
Subject Keyword: prices
Subject Keyword: commercial policy
Subject Keyword: international trade
Subject Keyword: international relations
Resource Type: journal article
Organisation: Macquarie University. Dept. of Economics

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