Heckscher Ohlin doc
Posted by: admin 10 months, 3 weeks ago
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\documentclass{article}
\usepackage{amsmath}
\begin{document}
\title{Heckscher-Ohlin Model}
\author{Your Name}
\date{\today}
\maketitle
\section{Introduction}
The Heckscher-Ohlin model is an economic theory that explains international trade patterns based on differences in factor endowments between countries.
\section{Assumptions}
The model makes the following assumptions:
\begin{enumerate}
\item There are two countries, Home and Foreign.
\item There are two goods, Good 1 and Good 2.
\item There are two factors of production, Labor ($L$) and Capital ($K$).
\item Each country has a fixed endowment of labor ($L_{\text{H}}$ and $L_{\text{F}}$) and capital ($K_{\text{H}}$ and $K_{\text{F}}$).
\item Production functions exhibit constant returns to scale.
\item Goods are produced using a combination of labor and capital.
\item Factors of production are immobile between countries.
\item There are no transportation costs or trade barriers.
\end{enumerate}
\section{Implications}
The model predicts that countries will export goods that intensively use their abundant factors of production and import goods that intensively use their scarce factors of production.
\end{document}
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