The Fundamental Determinants of the Terms of Trade Reconsidered: Long-run and Long-period Equilibrium
重新审视了Findlay关于贸易条件长期均衡决定因素的分析，将北方国家视为凯恩斯和卡莱茨基经济体，并考察了资本流动下长期时期均衡中贸易条件的决定因素，发现两个意外结果。
Ronald Findlay's analysis of the long-run equilibrium (uniform international growth rates) determinants of the terms of trade, in the context of North-South models of trade and growth, is reconsidered when the North is a Keynesian and a Kaleckian economy. Also examined are the determinants of the terms of trade in long-period equilibrium (uniform profit rates), so that the consequences of capital mobility are accounted for. Two surprising results are noted: first, the long-run terms of trade when the North is a Kaleckian economy will be independent of the North's markup and, second, in the long-period it is theoretically possible for the North to raise its markup, but experience a deterioration in its own terms of trade. Copyright 1990 by American Economic Association.