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Factor Content Functions and the Theory of International Trade.

Abstract:

This Paper introduces the concepts of direct and indirect factor trade utility functions and uses them to derive Marshallian and Hicksian factor content functions, which express the quantities of factors embodied in net exports as a function of the economy's factor prices and endowments. The properties of these functions are discussed and they are used to derive a number of new results. In particular, it is shown that, in certain circumstances, the existence of gains from trade is necessary a...

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Publisher:
CEPR
Host title:
C.E.P.R.Discussion Papers
Series:
C.E.P.R.Discussion Papers
Volume:
3
Publication date:
1984-01-01
Paper number:
3
Language:
English
UUID:
uuid:f9404a98-c073-4cea-9b90-89988a6b2e3b
Local pid:
oai:economics.ouls.ox.ac.uk:11736
Deposit date:
2011-08-16

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