Specific-factors model

Most undergraduates in their first year in economics have been exposed to an important ingredient in the specific-factors model. . .

South-South trade: The Gravity Puzzle

Using gravity equations to assess deviations between actual and predicted trade has been the most common approach to study SST.

South-South trade: Vertical Division of Labor and Extensive Margin of Trade

Two main determinants of the recent dynamism of SSTmust be stressed. First, the vertical specialization of countries (Hummels, Ishii, and Yi 2001). . .

South-South trade

South-South trade (SST) refers to trade between developing countries,which represent a limited share of theworld economy in terms of supply capacity and markets.

Ricardian model: The Role of the Ricardian Model in Understanding the World Economy

TheRicardianmodel was introduced long ago to explain one of the most basic concepts of economics, comparative advantage. . .

Ricardian model: Extensions of the Simple Ricardian Model

Before considering several extensions of the simple model described here, it is reasonable to ask what extensions would not be acceptable. . .

Ricardian model: The Simple Ricardian Model

The simple Ricardian model depicts a world of two countries, A and B, each using a single factor of production, labor L, to produce two goods, X and Y.

Ricardian model

The Ricardian model is the simplest and most basic general equilibriummodel of international trade that we have.

Quotas: Comparison of Quotas to Tariffs

Quotas influence international trade flows by directly limiting the quantity of a product that can be imported or exported.

Quotas: Economic Impact of Export Quotas

A binding export quota constrains the amount of a good that can leave the country, forcing more of it onto the domestic market.

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