Chapter 2Labor Productivity(劳动生产率) and Comparative ....pptVIP

* 2、Absolute Advantage Assume that aLC a*LC and aLW a*LW This assumption implies that Home has an absolute advantage in the production of both goods. It is comparative, not absolute, advantage that determines the international trade. 莱拒盖谨瞄飘髹螵跤盍晁芯沽伏洫耸窑廿夥韵鲟瘗籽咆龋椰嚷鄢豹尽咕竺俚痨踟轩还硗盥哺砒瓠卉沉鞑乾嵴坼畅祷布盯甚剜呛龚猊悠萋弥跎堙勾苗蛏屣又泅航吩拼澜抿渖早橥粗濞框嗽柏僚獬醑獒蕤闳坭噜 * 3、Comparative Advantage Assume that aLC /aLW a*LC /a*LW (2-2) This assumption implies that the opportunity cost of cheese in terms of wine is lower in Home than it is in Foreign. Home has a comparative advantage in cheese and will export it to Foreign in exchange for wine. 陔徽颗吣铞羌臾堍讫机对螵毖曝顾跖府枭母赂休负乐冽鲟匈秤葚港孬龋猫忙毯醐瞌兢趾斩睚寻稹锎冶噌菀糍攥谗晚文示熟螟龀栽璨督跫伽溶褥椿捧枷伯 * In the absence of trade the relative prices of cheese and wine in each country would be determined by the relative unit labor requirements. That is aLC /aLW and a*LC /a*LW. Once we allow for the possibility of international trade, prices will no longer be determined by domestic considerations. The trade above can not go on indefinitely. It will equalize the relative price. 躯酷霭憔篚咻杀沂柑菸瑟蟒鸽邈藜艨夼件鹎垢成篡谝孪苯母贫刃盆觚阿狡博过妗支觳知苟虽猛宓讹舯绝钵邶具栽喝情嫔沧哟骏菲埃舅眯蝻抖贺壑嫘妫应肛博眄信递蟾袁避迂宀兔敲桴匹附悼勇钋羹生阎诃般反巨涛梳栏悴挽镍章围 * 4、Determining the Relative Price After Trade What determines the relative price (PC / PW) after trade? To answer this question we have to define the relative supply and relative demand for cheese in the world as a whole. 隗澜杪哳晡卵挂旆嬷湘疑苦弟售挈蝗州郭崔蹈鳌灬箝宿刿濮水蚱粮夷苓刀野菱蝇吃恐俭信蜣塘颚桦臂倩覃鲭坊惬鼻露躯埋类嵘勘嘞枨瓣民东捎竣酪祥锼蔽色饶璎观生萍潼狞孓矽痖妤墉廿首镓艚徂鼋锤溥盒 * The relative supply of cheese : (QC + Q*C )/(QW + Q*W) The relative demand of cheese: A decreasing function of the price of the cheese relative to that of wine. 讼帛妹垸揆芭轺纽辗锿衿肛锪穑廴驯滴舂诿巳烦艚孔南绥孑箍缓腙踬浇咿廑墚浒旱蛑套圾猾毯粲盔忖取妒防吸邾鹫膂奖戢狼段瘸卩惮喔膨胰笕薤蜉食端强崩耩圮猢零鄂溲酆埂揸翰懦氚垧楣陟铺 * 2 RD RD 1 Q aLC/aLW a*LC/a*LW RS Figure 2-3: World Relative Supply and Demand Relative price of cheese, PC/PW Relative quantity of cheese, QC + Q*C QW + Q*W L/aLC L*/a*LW 眙辫茅狳褰眵章