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Unformatted text preview: 8. Trefler- New data set where states endowments are disaggregated into 9 categories / Finds very slight correlation between factor content and factor abundance (refuting Bowen, Leamer, and Sveikauskas) Main thesis of the review is that: 1. Intra-industry trade should be taken into account in econometric models 2. Product Differentiation should also be accounted for product differentiation is so prevalent that it is hard to see why it is even necessary to justify its presence in economic modelsadding product differentiation does improve the fit between theory and data. 142 3. Economies-of-Scale should be taken into account...
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This note was uploaded on 02/03/2012 for the course POLS 5308 taught by Professor Biglaiser during the Spring '11 term at Texas Tech.
- Spring '11
- Political Economy