Publication: An Inframarginal Analysis of the Heckscher-Olin Model with Transaction Costs and Technological Comparative Advantage
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1999-04
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Center for International Development at Harvard University
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Cheng, Wen Li, Jeffrey D. Sachs, and Xiaokai Yang. “An Inframarginal Analysis of the Heckscher-Olin Model with Transaction Costs and Technological Comparative Advantage.” CID Working Paper Series 1999.09, Harvard University, Cambridge, MA, March 1999.
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Abstract
In the paper we introduce technological comparative advantage and transaction costs into the Heckscher-Olin (HO) model and refine the HO theorem, the Stolper-Samuelson theorem, the Rybczynski theorem, and factor equalization theorem. The refined core theorems can be used to accommodate recent empirical evidence that is at odds with the core theorems.
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