The Heckscher-ohlin Model in Theory and Practice

  title={The Heckscher-ohlin Model in Theory and Practice},
  author={Edward E. Leamer and Margaret B. Riccardi and Lillian Spais and Lalitha H. Chandra},
  • Edward E. Leamer, Margaret B. Riccardi, +1 author Lalitha H. Chandra
  • Published 1995
ing now from trade imbalances, so that Bi = 0, this becomes Ti = (1 − γi)(A vi δi − qw p′A vi δi /GNPw) = (1 − γi)δi(A vi − qw p′A vi /GNPw) = (1 − γi)δi θ vi , (7) where θ = (A − qw p′A/GNPw). Although the world output vector qw /GNPw and the world price level (p) depend on the set of technology multipliers (δi), these do not vary across countries, and the matrix θ accordingly has no i subscript. If there were no home bias (γi = 0) and no technological differences (δi = 0), then (7) would… CONTINUE READING
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