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A Dynamic And Stochastic Extension Of The Main Theorems Of International Trade: The Case Of Exhaustible And Non-Renewable Factors

Author

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  • Francisco Venegas-Martínez

    (Tecnologico de Monterrey, Campus Ciudad de México)

Abstract

La mayoría de los modelos de comercio internacional son estáticos y deterministas, los factores de la producción se presentan a una tasa dada que permanece constante para siempre. En este trabajo proporcionamos algunas extensiones a los teoremas fundamentales del comercio internacional (Ribczynski, Stolper-Samuelson, Hecksher-Ohlin-Samuelso? y el de igualación de precios de los factores) . Consideramos recursos que se agotan y no son renovables en un marco dinámico donde los factores y las tasas de extracción se comportan de acuerdo a ecuaciones diferenciales estocásticas que siguen una tendencia dada. En este caso, pertubaciones estocásticas como: choques de mercado o aumentos o disminuciones inesperadas de reservas, son modelados a través del movimiento Browniano (la versión continua de una caminata aleatoria).

Suggested Citation

  • Francisco Venegas-Martínez, 2004. "A Dynamic And Stochastic Extension Of The Main Theorems Of International Trade: The Case Of Exhaustible And Non-Renewable Factors," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 3(1), pages 79-99, Marzo 200.
    • Handle: RePEc:imx:journl:v:3:y:2004:i:1:p:79-99
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    File URL: http://www.remef.org.mx/index.php/primera/article/view/165
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    References listed on IDEAS

    as
    1. Kemp, Murray C & Long, Ngo Van, 1979. "International Trade with an Exhaustible Resource: A Theorem of Rybczynski Type," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 20(3), pages 671-677, October.
    2. Tawada, Makoto, 1982. "A Note on International Trade with a Renewable Resource," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 23(1), pages 157-163, February.
    3. Kemp, Murray C & Long, Ngo Van, 1982. "Rybczynski's Theorem in a Context of Exhaustible Resources: The Case of Time-Contingent Prices," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 23(3), pages 699-710, October.
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    More about this item

    Keywords

    International Trade;

    JEL classification:

    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade

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