2022年《国际经济学》讲义答案.docx

名师归纳总结 精品学习资料 - - - - - - - - - - - - - - -CHAPTER 4 Resources 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 countries. IfT/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< T F/LF, production of Cloth is labor-intensive and production of Food is land-intensive. A good can t be both labor-intensive and land-intensive. Factor-proportions theory § 1. A Model of Two-Factor Economy 1. Assumption of the model The same two factors are used in both sectors: T、L ; Cloth、Food. 1Alternative input combinations: 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-2 w/rT L2 Relative intensity T/L TC/LC and TF/LF At any given wage-rental ratio, food production use a higher land-labor ratio, food production is land-intensive and cloth production is labor-intensive. 细心整理归纳 精选学习资料 - - - - - - - - - - - - - - - 第 1 页,共 11 页 - - - - - - - - - 名师归纳总结 精品学习资料 - - - - - - - - - - - - - - -Figure 4-2 2.Factor price and goods prices 1One-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 CC and FF are tangent to the same unit isocost line. Figure 4-3-1 When 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. Suppose the economy produce both cloth and food. Figure 4-3-2 细心整理归纳 精选学习资料 - - - - - - - - - - - - - - - 第 2 页,共 11 页 - - - - - - - - - 名师归纳总结 精品学习资料 - - - - - - - - - - - - - - -Figure 4-3-3 2Stolper-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/PFw/r MPLC , MPL FTC/LC ,TF/LFW/PC , W/PFFigure 4-4 3.Resources and output 1Relative price、resources and production Given 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 output of each good.Figure4-5. 细心整理归纳 精选学习资料 - - - - - - - - - - - - - - - 第 3 页,共 11 页 - - - - - - - - - 名师归纳总结 精品学习资料 - - - - - - - - - - - - - - -The slope of OcC is Tc/Lc, the slope of OFF is TF/LF 2Rybczynski 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 TTF LF ;TC LCQF QCRybczynski 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 4-7 ·The economy could produce more of both cloth and food than before. ·A biased 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 of trade As always, Home and Foreign are similar along many dimentions, such as relative demand and technology. The only difference 细心整理归纳 精选学习资料 - - - - - - - - - - - - - - - 第 4 页,共 11 页 - - - - - - - - - 名师归纳总结 精品学习资料 - - - - - - - - - - - - - - -between the countries is their resources: Home has a lower ratio of land to labor than Foreign does. ·relative abundance relative supply relative prices tradeT/L H<T/L F TC/LC< TF/LF PC/PFH< PC/PF FRS lies to the right of RS*, 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 4-8 2. Trade and the distribution of income·According 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 factors gain from trade, but owners of a countrys scare factorsThe distinction between income distribution effects due to immobility and those due to differences in factor intensity. The specific factor model: Sectors; temporary and transitional problem ·The H-O model: Factors; permanent problem Resources and trade factor endowment theory Short-run analysis: The specific factor model Long-run analysis: H-O model 3. Factor price equalization·Factor price equalization proposition: International trade produces a convergence of relative goods prices. This convergence, in turns, causes the convergence of the relative factor prices. Trade leads to complete equalization of factor prices. Figure4-8,4-4 or Figure 4A-3 细心整理归纳 精选学习资料 - - - - - - - - - - - - - - - 第 5 页,共 11 页 - - - - - - - - - 名师归纳总结 精品学习资料 - - - - - - - - - - - - - - -Figure 4A-3 · One-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 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 Foreign s exports than its imports.·In the real world factor prices are not equalized Table4-1. Why. Table 4-1 Comparative lnternational Wage RatesUnited States=100 Hourly compensation Country of production workers,2000 United States 100 Germany 121 Japan 111 Spain 55 South Korea 41 Portugal 24 Mexico 12 Sri Lanka* 2 *1969. Source: Bureau of Labor Statistics, Foreign Labor Staistics Home Page.Three assumptions crucial to the prediction of factor price equalization are in reality certainly untrue. 1Both countries produce both goods.Trading countries are sufficiently similar in their relative factor endowments 2Technologies are the same.Trade actually equalizes the prices of goods in two countries. 3There are barriers 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 inequality Why has wage inequality in U.S. increased between the late 1970s and the early 1990s. 细心整理归纳 精选学习资料 - - - - - - - - - - - - - - - 第 6 页,共 11 页 - - - - - - - - - 名师归纳总结 精品学习资料 - - - - - - - - - - - - - - -1Many observers attribute 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 ExportsPercent of Total 1973 Agricultural Mining Manufactured Products Products Goods 30 47.5 22 1995 14 22.5 62.5 Source: World Trade Organization 2Most 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 Model 1. Tests on U.S dataTable 4-3 Factor Content of U.S.Exports and lmports for 1962 Imports Exports Capital per million dollars $2,132,000 $1,876,000 Laborperson-years per million dollars 119 131 Capital-labor ratio dollars per worker $17,916 $14,321 Average years of education per worker 9.9 10.1 Proportion of engineers and scientists in 0.0189 0.0255 work force Source:Rodert Baldwin, “ Determinants of the Commodity Structure of U.S.Trade, ” American Ecomomic Review61March1971, pp.1 ··Leontief 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 engineers per unit of sales ·A plausible explanation: U.S. may be exporting goods that heavily use skilled labor and innovative entrepreneurshipsuch 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 Testing the Heckscher-Ohlin Model Factor of Production Predictive Success* 细心整理归纳 精选学习资料 Capital 0.52 第 7 页,共 11 页 Labor 0.67 Professional workers 0.78 Managerial workers 0.22 Clerical workers 0.59 Sales workers 0.67 Service workers 0.67 Agricultural workers 0.63 - - - - - - - - - - - - - - - - - - - - - - - - 名师归纳总结 精品学习资料 - - - - - - - - - - - - - - -Production workers 0.70 Arable land 0.70 Pasture land 0.52 Forest 0.70 *Fraction of countries 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 77December 1987, pp.791-809. ·If the factor-proportion theory was right, a country would 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 run 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 Type of Product U.S.Exports to U.S.Imports from South Korea South Korea Chemicals, plastics, pharmaceuticals 1340 105 Power-generating equipment 705 93 Professional and scientific instruments 512 96 Transport equipment other than road Vehicles mainly aircraft 1531 78 Clothing and shoes 11 4203 Source: Statistical Abstract of the United States,1994. 4. The case of the missing trade·A 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 much smaller than the H-O model predicts. ·A large part of the reason for this disparity comes from a false prediction of large-scale trade in labor between rich and poor countries. ·This puzzle can be resolved only by dropping the H-O assumptions that technologies are the same across countries. Table4-6 细心整理归纳 精选学习资料 Table 4-6 Estimated Technological Efficiency, 1983 United States=1 第 8 页,共 11 页 Bangladesh 0.03 Thailand 0.17 Hong Kong 0.40 - - - - - - - - - - - - - - - - - - - - - - - - 名师归纳总结 精品学习资料 - - - - - - - - - - - - - - -Japan 0.70 West Germany 0.78 Source: Trefler, American Economic Review, December 1995,p.103 5. Implications of the tests While the H-O model has been less successful at explaining the actual patterns of trade than one might hope, it remains vital for understanding its effects on the distribution of income. 细心整理归纳 精选学习资料 - - - - - - - - - - - - - - - 第 9 页,共 11 页 - - - - - - - - - 名师归纳总结 精品学习资料 - - - - - - - - - - - - - - -Answers to Problems of Chapter 4 1· The ratio of land to labor in cattle exceeds the ratio in wheat in the United States , States . implying cattle is land intensive in the United ·Cattle is land intensive in other countries too if the ratio of land to labor in cattle production exceeds the ratio in wheat production in ·that country. Comparisons between another country and the United States is less relevant for this purpose. 2 a. T C160T F1600L C20L F5T CT FT CT F60LCLF60020 T C5 T FT C20 40;L C400T FL F200b. L=800: TC=33.33, LC=666.67; L=1000: TC=46.67, LC=933.33; TF=26.67, L F=133.33 TF=13.33, LF=66.67 L=1200: TC=60, LC=1200; TF=0, LF=0. complete specialization. c. At constant factor prices, some labor would be unused, so factor prices would have to change, or there would be unemployment. 3 What matters are not the absolute abundance of factors, but their relative abundance. Poor countries have an abundance of labor relative to capital when compared to more developed countries. 4 · In the Ricardian model, labor gains from trade through an increase in its purchasing power. This result does not support labor union demands for limits on imports from less affluent countries. 细心整理归纳 精选学习资料 - - - - - - - - - - - - - - - 第 10 页,共 11 页 - - - - - - - - - 名师归纳总结 精品学习资料 - - - - - - - - - - - - - - -·Labor may gain or lose from trade in the context of the Specific Factors model. Purchasing power in terms of one good will rise, ·but in terms of the other good it will decline. In the context of the Heckscher-Ohlin model, unskilled U.S. labor loses from trade since this group represents the relatively scarce factors in this country. The results from the Heckscher-Ohlin model support labor union demands for import limits. 5 · Conditions necessary for factor price equalization include · The inequality wages within regions of U.S. may reflect all of these ·reasons; however, the barriers to trade are purely “ natural” barriers due to transportation costs. U.S. trade with Mexico, by contrast, is also subject to l