A REEXAMINATION OF THE NEOCLASSICAL TRADE MODEL UNDER UNCERTAINTY
成果类型：
Article
署名作者：
HOFF, K
刊物名称：
JOURNAL OF INTERNATIONAL ECONOMICS
ISSN/ISSBN：
0022-1996
DOI：
10.1016/0022-1996(94)90055-8
发表日期：
1994
页码：
1-27
关键词：
摘要：
This paper presents a model that pinpoints the exact places and reasons that the propositions of the Heckscher-Ohlin-Samuelson model break down under uncertainty. Within the model, if preferences exhibit decreasing absolute risk aversion, (i) a capital-poor country tends to obtain lower revenues from its resources than the same resources would yield in capital-rich countries, (ii) if there is one riskless and one risky sector, a capital-abundant country tends to have a comparative advantage in the risky sector, and (iii) the pattern of trade depends on the intranational as well as the international distribution of endowments.