On the evolution of comparative advantage in matching models

• 成果类型: Article
• 署名作者: Fisher, EO; Kakkar, V
• 署名单位: City University of Hong Kong; University System of Ohio; Ohio State University; Johns Hopkins University; European University Institute
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/S0022-1996(03)00080-1
• 发表日期: 2004
• 页码: 169-193
• 关键词: comparative advantage; matching; evolutionarily stable equilibrium

摘要

This paper examines whether comparative advantage is the long-run outcome of an evolutionary process in the open economy It formalizes the notion that natural selection eliminates inefficient firms and thus leads to stable and perhaps efficient patterns of world trade. Instead of assuming the existence of a Walrasian auctioneer, we study two simple matching processes that coordinate trade between firms. Our central result is that specialization according to comparative advantage, with the larger country possibly incompletely specialized, is the unique evolutionarily stable state of the world economy. (C) 2003 Elsevier B.V. All rights reserved.