International trade as an 'integrated equilibrium': new perspectives

Article Abstract:

New research indicates that integrated equilibrium has limitations as a way of understanding international trade.

Equilibrium (Economics)

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Variety growth and world welfare

Article Abstract:

International trade trends over the past 25 years are observed and the role of product variety in improving international trade grades is discussed.

Forecasts, trends, outlooks, Forecasts and trends, Influence, Market trend/market analysis, Product differentiation

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Using international and Japanese regional data to determine when the Factor Abundance Theory of Trade works

Article Abstract:

The strict Heckscher-Ohlin-Vanek (HOV) factor service trade model performs well overall despite its poor performance when empirically tested with global and Japanese regional data. It cannot explain the global setting of production and restriction of the sample to regions in Japan results to a state of the "mystery of the missing trade," as called by Daniel Trefler. There, however, is a dramatic improvement in the HOV model's performance when the assumption of universal price equalization is relaxed.

Administration of General Economic Programs, Economics, Research and Development in the Social Sciences and Humanities, Trade Relations, Research, Japan, International economic relations, Trade policy

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