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- Title
An input trade model with Keynesian unemployment: Bridging a gap between trade theory and international Input–Output analysis.
- Authors
Sato, Hideo
- Abstract
This study presents a trade model with (1) intermediate inputs, (2) link commodities, and (3) Keynesian unemployment. The model has linear input coefficients, stable commodity prices, and short‐run adjustment of the quantity supplied on the occasion of demand changes, making it compatible with international input–output tables and analysis. Given production techniques, labor endowments, upper limits of unemployment rates, markup rates, and final demand in each country, this model specifies feasible trade patterns and determines commodity prices, wage rates, gross outputs, employment/unemployment rates, national income, income distribution, and trade volumes/values for each pattern. Starting with a two‐country, three‐commodity case, this model expands to a multi‐country, multi‐commodity case.
- Subjects
INPUT-output analysis; NATIONAL income; INTERNATIONAL trade; BALANCE of trade; PRICES; INCOME distribution; COMMODITY exchanges; UNEMPLOYMENT
- Publication
Metroeconomica, 2024, Vol 75, Issue 3, p282
- ISSN
0026-1386
- Publication type
Article
- DOI
10.1111/meca.12452