The Heckscher-Ohlin-Vanek Theorem and International Factor Price Differences

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• 作者：Avik Chakrabarti
• 关键词：Heckscher ; Ohlin ; Vanek theorem ; factor underutilization ; trade in intermediates
• 刊名：Open Economies Review
• 出版年：2005
• 出版时间：October 2005
• 年：2005
• 卷：16
• 期：4
• 页码：407-412
• 全文大小：177 KB

文摘

This paper demonstrates the importance of accounting for absorption of inputs in a model of factor-augmenting international productivity differences when examining the consistency of international factor price differences with the Heckscher-Ohlin-Vanek (HOV) theorem. It is shown that the absence of such accounting has non-trivial implications in the form of introducing a bias in the calculation of productivity parameters based on the HOV theorem.