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Variable labour supply and the pure theory of international trade: an empirical note

Abstract:
Previous writers have shown that variable labour supply may lead to perverse price output responses in the two-sector Heckscher-Ohlin model. This note attempts to assess the empirical likelihood, as opposed to the theoretical possibility, of such perversities. Using a range of plausible parameter values, we conclude that cases of a perverse price-output response consistent with dynamic stability of the model, though theoretically possible, are unlikely to arise in practice.
Publication status:
Published
Peer review status:
Peer reviewed

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Institution:
Organization for Economic Cooperation and Development (OECD)
Role:
Author
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Institution:
University of Oxford
Division:
SSD
Department:
Economics
Research group:
Industrial Economics
Oxford college:
Merton College
Role:
Author
Publisher:
North Holland Publishing Company
Journal:
Journal of international economics Journal website
Volume:
10
Issue:
4
Pages:
549-559
Publication date:
1980-11-01
DOI:
ISSN:
0022-1996
Language:
English
Keywords:
Subjects:
UUID:
uuid:2e64e332-71a3-4127-b358-64c9a343ea2e
Local pid:
ora:2225
Deposit date:
2008-07-23

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