7 Intl Econ Notes

7 Intl Econ Notes - Intl Econ Notes 4/13/09 Were finishing...

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Int’l Econ Notes 4/13/09 We’re finishing our look at causes of trade; we’ll look at trade policy soon (maybe next class) Another review session a week from this Thursday at same time; ask Jason for video Specific factors model good for looking at trade and income distribution (helpful to look at immigration and FDI flows) Models presented in this particular order to help us understand concepts (and think in general equilibrium more quickly) but not so great for empirical work More sophisticated models used in empirical work would still include parts of the models we have learned Labor moves more quickly in some countries than in others Historically, in US, labor has followed capital rather than vice versa In HO model, still have specialization according to comparative advantage but can take advantage of comparative advantage in certain fragments of production process o So, the production process in this model can be fragmented and still follow model
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7 Intl Econ Notes - Intl Econ Notes 4/13/09 Were finishing...

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