Factor Accumulation and Trade: Dynamic Comparative Advantage with Endogenous Physical and Human Capital*
构建了一个两国内生增长模型，研究物质资本和人力资本积累如何影响贸易模式，发现存在静态和动态赫克歇尔-俄林假说成立或不成立的均衡路径。
This article develops a two‐country endogenous growth model with accumulation of both physical and human capital. We establish the existence of two‐country balanced growth equilibria with physical and human capital in which a static and dynamic version of the Heckscher–Ohlin (HO) hypothesis hold true. We also show the existence of unbalanced growth equilibria in which the static and dynamic HO hypotheses can be violated. The multiplicity of paths with international trade emerge as a result of the intertemporal no‐arbitrage condition when factor prices are equalized across countries.