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A threefactor model in theory trade and history
Factor market distortions the shape of the locus of com
Trade and factor prices in a multicommodity world
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agriculture analysis assumed assumption autarky average Bhagwati Brazil Brazilian capital accumulation Chambers and Gordon Cobb-Douglas coefficients commodity prices competitive outputs constant cost currency curve demand devaluation distortions domestic effective rates efficiency elasticity equations equilibrium exchange rate expansion export export-led factor endowments factor intensities factor prices factor-price equalization factors of production Figure foreign exchange free trade gains from trade given growth rate hence IADB IBRD imports increase indifference curve industry initial inputs international trade investment isoquant Kindleberger labor force locus of competitive marginal product monetary optimal policy-imposed positive price ratio problem production functions production possibility production possibility frontier propensity to save Proposition rate of growth rates of protection reduce relationship relative price result returns to scale sector seigniorage slope subsidy substitution supply surplus tariff tax-cum-subsidy technical terms of trade theorem theory tion wage rate welfare wheat boom