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A model of trade in money, goods and factors
Schmid, Michael (1976): A model of trade in money, goods and factors, in: Journal of international economics, Amsterdam: North-Holland Publishing Company, Jg. 6, Nr. 4, S. 347–361.
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Author:
Title of the Journal:
Journal of international economics
ISSN:
0022-1996
Publisher Information:
Year of publication:
1976
Volume:
6
Issue:
4
Pages:
Language:
English
Abstract:
The 'Oil Crisis' provides the challenge to analyze effects of a resource shortage in a minimal monetary model of a vertically trading world economy. The one-asset monetary approach to balance of payments theory is employed to demonstrate that in a model with one final good and two inputs the elasticity of substitution between the domestic factor of production and an imported raw material plays the key role in determining the reaction of the balance of payments ( =balance of trade).
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Type:
Article
Activation date:
November 14, 2023
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https://fis.uni-bamberg.de/handle/uniba/91737