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1、Feenstra,AdvancedInternationalTradeChapter1:Preliminaries:Two-SectorModelsWebeginourstudyofinternationaltradewiththeclassicRicardianmodel,whichhastwogoodsandonefactor(labor).TheRicardianmodelintroducesustotheideathattechnologicaldifferencesacrosscountriesmatter.Incomparison,
2、theHeckscher-Ohlinmodeldispenseswiththenotionoftechnologicaldifferencesandinsteadshowhowfactorendowmentsformthebasisfortrade.Whilethismaybefineintheory,itperformsverypoorlyinpractice:asweshowinthenextchapter,theHeckscher-Ohlinmodelishopelesslyinadequateasanexplanationforhist
3、oricalormoderntradepatternsunlessweallowfortechnologicaldifferencesacrosscountries.Forthisreason,theRicardianmodelisasrelevanttodayasithasalwaysbeen.Ourtreatmentofitinthischapterisasimplereviewofundergraduatematerial,butwewillhavetheopportunitytorefertothismodelagainatvariou
4、splacesthroughoutthebook.AfterreviewingtheRicardianmodel,weturntothetwo-good,two-factormodelwhichoccupiesmostofthischapterandformsthebasisoftheHeckscher-Ohlinmodel.Weshallsupposethatthetwogoodsaretradedoninternationalmarkets,butdonotallowforanymovementsoffactorsacrossborders
5、.Thisreflectsthefactthatthemovementoflaborandcapitalacrosscountriesisoftensubjecttocontrolsattheborderandgenerallymuchlessfreethanthemovementofgoods.Ourgoalinthenextchapterwillbetodeterminethepatternofinternationaltradebetweencountries.Inthischapter,wesimplifythingsbyfocusin
6、gprimarilyononecountry,treatingworldpricesasgiven,andexaminethepropertiesofthistwo-by-twomodel.Thestudentwhounderstandsallthepropertiesofthismodelhasalreadycomealongwayinhisorherstudyofinternationaltrade.1-2Feenstra,AdvancedInternationalTradeRicardianModelIndexinggoodsbythes
7、ubscripti,letaidenotethelaborneededperunitofproductionof*eachgoodathome,whileaisthelaborneedperunitofproductionintheforeigncountry,ii=1,2.ThetotallaborforceathomeisLandabroadisL*.Laborisperfectlymobilebetweentheindustriesineachcountry,butimmobileacrosscountries.Thismeansthat
8、bothgoodsareproducedinthehomecountryonlyifthewagesearnedinthetwoindustriesa
