کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
9555832 | 1377026 | 2005 | 23 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Heckscher-Ohlin revisited: implications of differential population dynamics for trade within an overlapping generations framework
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کلمات کلیدی
موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
کنترل و بهینه سازی
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چکیده انگلیسی
This paper investigates the implications of the addition of differential population dynamics to a simple 2Ã2Ã2 model of international trade within an overlapping generations framework. The two regions considered are assumed to be identical in every respect except for the way their populations evolve over time. The effects of these demographic differences are explored by comparing autarky and trade on the basis of (i) the analytical solutions obtained for the steady-state values of key variables and (ii) the paths of these variables plotted using numerical results from simulation experiments carried out under two different demographic scenarios. Unequal population dynamics are shown to affect the relative abundance of the factors of production in each region, giving rise to differentials in wage rates and rentals for capital under autarky conditions. This, in turn, causes costs of production and relative prices to differ, creating the grounds for trade in the sense of Heckscher-Ohlin (HO). Yet, the results reveal that static HO results cannot be generalized to hold in a dynamic setting where differences in demographics cause factor proportions to evolve independently of trade over time.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Dynamics and Control - Volume 29, Issue 9, September 2005, Pages 1471-1493
Journal: Journal of Economic Dynamics and Control - Volume 29, Issue 9, September 2005, Pages 1471-1493
نویسندگان
Serdar Sayan,