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Empirical Tests and Trade Strategies 264 9 Empirical Tests and Trade Strategies
Ricardian Applications and Perspectives
10 other sections not shown
agriculture analysis argument assumed assumption autarky capitalist circulating capital commodity commodity prices comparative advantage Consider constant consumption costs defined demand determined developing countries direct discussed dynamic economy effects employment endowment England equal equation equilibrium example exports factor price fall follows function further gains given higher hold import income increase industry initial inputs intensive intermediate inputs labour labour-intensive land long-run lower manufactures marginal modity neo-classical non-tradable opening output pattern period position preference price ratio primary production production possibilities frontier protection rate of growth rate of profit real wage relations relationship relative relative price rent resource respectively returns Ricardian rise role sector shown shown in Fig skilled specialisation specific factors static steady subsistence substitution supply Table technical change techniques terms of trade theorem theory tion Tropics variables wage worker world prices yields