Ricardian model and heckscher-ohlin model, Business Management

1. Wage ratios must lie in between the inter-country productivity ratios.

2. Large countries are always less specialized.

3. Low wage countries have bigger gains from trade.

HECKSCHER-OHLIN MODEL:

1. Labor in a labour-abundant country will favour free trade.

2. Rise in labor supply has no effect on wage rates in the Heckscher Ohlin model.

Posted Date: 3/2/2013 1:19:39 AM | Location : United States







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