## Fundamental issues in trade theory |

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### Contents

RESWITCHING AND PRIMARY INPUT USE J | 15 |

RESWITCHING PRIMARY INPUTS AND | 38 |

A NOTE ON THE GAIN FROM TRADE J S Metcalfe | 47 |

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analysis assume assumption autarky basic model capitalist choice of technique closed economy coefficients commodity price ratio comparative dynamics consider consumption commodity determined distribution embodied labour ratios endowment equal equalisation essay exchange rate factor intensity Figure foreign free trade frontier full employment gain from trade given gross output growth rate H-O-S theory Harrod Heckscher-Ohlin theorem heterogeneous capital IAN STEEDMAN important income incomplete specialisation increase interest rate international prices international trade investment J. S. METCALFE long-run maximising maximum means of production no-trade price ratios open economy output pattern positive rate possible price equations price vector primary inputs produced means quantity rate of growth rate of interest rate of profit real wage rate relation relationship relative prices rent-wage ratio Ricardian Ricardo Samuelson Sraffa steady growth Stolper-Samuelson theorem surplus switch terms of trade theorem theory of international trade balance trade equilibrium trade theory trade-offs tradeables transition with-trade zero