International Factor Mobility, Minimum Wage Rates, and Factor-Price Equalization: A Synthesis
研究小型开放经济中部分要素供给弹性无限大时的比较静态性质，并与所有要素价格内生的经济对比，分析要素价格刚性、要素价格均等化与专业化模式的关系。
This paper examines the behavior of a small open economy facing perfectly elastic supply curves for some of its productive factors. In particular, the paper derives some comparative statics properties of such economies, compares them with the properties of otherwise identical economies in which all factor prices are determined endogenously, and investigates the relationship between factor-price rigidities, factor-price equalization, and the pattern of specialization. Among the new results which are proved, it is shown that, as more and more factor-price rigidities are imposed on an economy, it comes "closer" to a state of factor-price equalization.