Презентация на тему "The heckscher-ohlin model"

Содержание

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  The Heckscher-Ohlin Model

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  ‘2 by 2 by 2”

  two countries: Home and Foregin two good: cloth and food two factors of production: capital and labor

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  Production Function

  Qc=Qc ( Kc, Lc) Qf=Qf(Kf,Lf) Qc, Qf – output levels of cloth and food Kc,Lc – amounts of capital and labor employed in cloth production Kf, ,Lf - amounts of capital and labor employed in food production

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  Akc – capital used to produce one unit of cloth Alc – labor used to produce one unit o cloth Akf - capital used to produce one unit of food Akf- labor used to produce one unit of food

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  Production of one unit of cloth requires: Akc = 2 (work hours) Alc = 2 (machine hours) Production of one unit of cloth requires: Akf= 3 (machine hours) Alf = 1 (work hours) Assume that an economy is endowed with 3000 units of machine- hours along with 2000 unit of work hours.

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  Relative Prices and the Pattern of Trade

  Hecksher-Ohlin Theorem: The country that is abundant in a factor exports the good whose production is intensive that factor.

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  Trade and the Distribution of Income

  Owners of a country’s abundant factors gain from trade, but owners of a country’s scarce factors lose.