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- Title
A TECHNIQUE FOR INDICATING COMPARATIVE COSTS AND PREDICTING CHANGES IN TRADE RATIOS.
- Authors
Baldwin, Robert E.; Hilton, R. Spence
- Abstract
Abstract--This paper estimates relative differences in factor prices (and thus industry comparative cost differences) between the United States and each of eight country groups by relating differences in factor-use requirements and actual bilateral export/import ratios across industries. Predictions concerning changes in industry export/import ratios are also made (and tested against actual subsequent changes) by comparing these trade ratios with those expected on the basis of the estimated average differences in factor costs and assuming that adjustment lags are the major reason for the differences between these ratios.
- Subjects
UNITED States; COMPARATIVE advantage (International trade); BUSINESS; FACTOR proportions; INDUSTRIES; INTERNATIONAL trade; ESTIMATION theory; RATIO analysis
- Publication
Review of Economics & Statistics, 1984, Vol 66, Issue 1, p105
- ISSN
0034-6535
- Publication type
Article
- DOI
10.2307/1924701