《国际经济学》讲义答案.docx

1、国际经济学讲义答案CHAPTER 4Resources and Trade:The Heckscher-Ohlin Model (Factor Endowment Theory)*Comparative advantage is influence by the interaction between relative abundance and relative intensity.*Relative abundance: the proportions of different factors of production are available in different countri

2、es.If(T/L)H(T/L)F, Home is labor-abundant and Foreign is land-abundant “per captia”,“relative” , no country is abundant in everything.*Relative intensity: the proportions of different factors of production are used in producting different goods.At any given factor prices, if (TC/LC)(TF/LF), producti

3、on of Cloth is labor-intensive and production of Food is land-intensive. A good cant be both labor-intensive and land-intensive.(Factor-proportions theory)1. A Model of Two-Factor Economy1. Assumption of the modelThe same two factors are used in both sectors: T、L ; Cloth、Food.(1)Alternative input co

4、mbinations: In each sector, the ratio of land to labor used in production depends on the cost of labor relative to the cost of land, w/r.Figure 4A-2w/r TL T/L(TC/LCand TF/LF)(2) Relative intensity At any given wage-rental ratio, food production use a higher land-labor ratio, food production is land-

5、intensive and cloth production is labor-intensive.Figure 4-22.Factor price and goods prices(1)One-to-one relationship Because cloth production is labor-intensive while food production is land-intensive. The one dollar worth isoquant line of cloth and food are shown as Figure4-3-1.The two isoquants C

6、C and FF are tangent to the same unit isocost line.Figure 4-3-1When PC rises, the slope of the unit isocost line w/r rises, that is, there is one-to-one relationship between factor price ratio w/r and the relative price of cloth PC/PF (Figure4-3-2). The relationship is illustrated by the curve SS.(S

7、uppose the economy produce both cloth and food).Figure 4-3-2Figure 4-3-3(2)Stolper-Sammelson effect If the relative price of a good rises, the real income of the factor which intensivly used in that good will rise, while the real income of the other factor will fall.PC/PF w/r TC/LC,TF/LFMPLC, MPLF W

8、/PC, W/PFFigure 4-43.Resources and output(1)Relative price、resources and productionGiven the prices of cloth and food and the supply of land and labor, it is possible to determine how much of each resource the economy devoted to the production of each good; and thus also to determine the economys ou

9、tput of each good. Figure4-5.The slope of OcC is Tc/Lc, the slope of OFF is TF/LF(2)Rybczynski effect If goods prices remain unchanged, an increase in the supply of land will rise the output of food more than proportion to this increase, while the output of cloth will fall.Figure4-6 T TFLF;TCLC QFQC

10、Rybczynski effect: At unchanged relative goods price, if the supply of a factor of production increases, the output of the good that are intensive in that factor will rise, while the output of the other good will fall.Figure 4-7The economy could produce more of both cloth and food than before.A bias

11、ed expansion of production possibilities. An economy will tend to be relatively effective at producing goods that are intensive in that factors with which the country is relative well-endowed.2.Effects of International Trade Between Two-Factor Economies 1. Resources、relative prices and the pattern o

12、f trade As always, Home and Foreign are similar along many dimentions, such as relative demand and technology. The only difference between the countries is their resources: Home has a lower ratio of land to labor than Foreign does.relative abundance relative supply relative prices trade(T/L)H(T/L)F

13、(TC/LC)(TF/LF) RS lies to the right of RS*, (PC/PF)H( PC/PF )F Home trade Cloth for Food,Foreign trade Food for Cloth.H-O proposition: Countries tend to export goods whose production is intensive in factors with which they are abundantly endowed.Figure 4-82. Trade and the distribution of incomeAccor

14、ding to Stolper-Samuelson effect, a rise in the price of cloth raises the purchasing power of labour in terms of both goods, while lowering the purchasing power of land in terms of both goods. Thus,in Home,laborers are made better off while landowners are made worse off.Owners of a countrys abundant

15、 factors gain from trade, but owners of a countrys scare factors lose.The distinction between income distribution effects due to immobility and those due to differences in factor intensity.The specific factor model: Sectors; temporary and transitional problemThe H-O model: Factors; permanent problem

16、Resources and trade (factor endowment theory)Short-run analysis: The specific factor modelLong-run analysis: H-O model3. Factor price equalizationFactor price equalization proposition: International trade produces a convergence of relative goods prices. This convergence, in turns, causes the converg

17、ence of the relative factor prices. Trade leads to complete equalization of factor prices. (Figure4-8,4-4 or Figure 4A-3)Figure 4A-3One-dollar-worth isoquant lines.Goods price and technologies are the same, so CC、FF are the same in both countries.w/r are the same in both countries.In an indirect way

18、 the two countries are in effect trading factors of production.（Home exports labor: more labor is embodied in Homes exports than its imports；Foreign exports land: more land is embodied in Foreigns exports than its imports.）In the real world factor prices are not equalized (Table4-1). Why?Table 4-1 C

19、omparative lnternational Wage Rates(United States=100)Hourly compensationCountry of production workers,2000United States100Germany121Japan111Spain55South Korea41Portugal24Mexico12Sri Lanka*2*1969. Source: Bureau of Labor Statistics, Foreign Labor Staistics Home Page. Three assumptions crucial to the

20、 prediction of factor price equalization are in reality certainly untrue. (1)Both countries produce both goods.(Trading countries are sufficiently similar in their relative factor endowments)(2)Technologies are the same.(Trade actually equalizes the prices of goods in two countries).(3)There are bar

21、riers to trade: natural barriers (such as transportation costs) and artificial barriers (such as tariffs, import quotas, and other restrictions).Case study: North-south trade and income inequalityWhy has wage inequality in U.S. increased between the late 1970s and the early 1990s?(1)Many observers a

22、ttribute the change to the growth of world trade and in particular to the growing exports of manufactured goods from NIEs.Table 4-2 Composition of Developing-Country Exports(Percent of Total)Agricultural Mining ManufacturedProducts Products Goods19733047.52219951422.562.5Source: World Trade Organiza

23、tion(2)Most empirical workers believed that trade has been at most a contributing factor to the growing inequality and that the main villain is technology.3. Empirical Evidence on the H-O Model1. Tests on U.S dataTable 4-3 Factor Content of U.S.Exports and lmports for 1962Imports ExportsCapital per

24、million dollars$2,132,000$1,876,000Labor(person-years) per million dollars119131Capital-labor ratio (dollars per worker)$17,916$14,321Average years of education per worker9.910.1Proportion of engineers and scientists in work force0.01890.0255Source:Rodert Baldwin,“Determinants of the Commodity Struc

25、ture of U.S.Trade,”American Ecomomic Review61(March1971), pp.1Leontief paradox: U.S. exports were less capital-intensive than U.S. imports. (Capital-labor ratio)U.S. exports were more skilled labor-intensive and technology-intensive than its imports. (Average years of education; scientists and engin

26、eers per unit of sales)A plausible explanation: U.S. may be exporting goods that heavily use skilled labor and innovative entrepreneurship(such as aircraft and computer chips), while importing heavy manufactures that use large amounts of capital (such as automobiles).2.Tests on global dataTable 4-4

27、Testing the Heckscher-Ohlin ModelFactor of Production Predictive Success*Capital0.52Labor0.67Professional workers0.78Managerial workers0.22Clerical workers0.59Sales workers0.67Service workers0.67Agricultural workers0.63Production workers0.70Arable land0.70Pasture land0.52Forest0.70*Fraction of count

28、ries for which net exports of factor runs in predicted direction.Source: Harry P.Bowen, Edward E.Leamer, and Leo Sveikauskas,“Multicountry, Multifactor Tests of the Factor Abundance Theory,”American Economic Review 77(December 1987), pp.791-809.If the factor-proportion theory was right, a country wo

29、uld always export factors for which the factor share exceeded the income share, import factors for which it was less.Two-thirds of the factors were trading in the predicted direction less than 70 percents of the time. This result confirms the Leontief paradox on a broader level: Trade often doesnt r

30、un in the direction that the H-O theory predicts.3.Test on North-South tradeNorth-South trade in manufactures seems to fit the H-O theory much better.Table 4-5 Trade Between the United States and South Korea, 1992(million dollars) U.S.Exports to U.S.Imports fromType of Product South Korea South Kore

31、aChemicals, plastics, pharmaceuticals1340105Power-generating equipment70593Professional and scientific instruments51296Transport equipment other than roadVehicles (mainly aircraft)153178Clothing and shoes114203Source: Statistical Abstract of the United States,1994.4. The case of the missing tradeA previously overlooked empirical problems: The H-O model can predict not only the direction but the volume of trade.Factor trade in general turns out to be mu