Mundell and Markusen each wrote classic papers on the relationship between trade and factor movement. Mundell showed that substitution holds in the Heckscher-Ohlin model. Markusen challenged the substitution result and showed in five different models that removing barriers to factor movement results in complementarity under free trade, identical factor endowments, and a change in any one of the other assumptions underlying the Heckscher-Ohlin model...
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详细
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2006/08/01
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政策研究报告
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WPS3974
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1
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1
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2010/07/01
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Disclosed
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Substitution in Markusen's classic trade and factor movement complementarity models
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factor movement