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1、NBERWORKINGPAPERSERIESTHEFACTORCONTENTOFTRADEDonaldR.DavisDavidE.WeinsteinWorkingPaper8637http://www.nber.org/papers/w8637NATIONALBUREAUOFECONOMICRESEARCH1050MassachusettsAvenueCambridge,MA02138December2001TheNationalScienceFoundationprovidedsupportfortheresearchreporte
2、dinthischapter.TheviewsexpressedhereinarethoseoftheauthorsandnotnecessarilythoseoftheNationalBureauofEconomicResearch.©2001byDonaldR.DavisandDavidE.Weinstein.Allrightsreserved.Shortsectionsoftext,nottoexceedtwoparagraphs,maybequotedwithoutexplicitpermissionprovidedthatf
3、ullcredit,including©notice,isgiventothesource.TheFactorContentofTradeDonaldR.DavisandDavidE.WeinsteinNBERWorkingPaperNo.8637December2001JELNo.F1ABSTRACTStudyofthefactorcontentoftradehasbecomealaboratorytotestourideasabouthowthekeyelementsofendowments,production,absorpti
4、onandtradefittogetherwithinageneralequilibriumframework.Alreadyagreatdealofprogresshasbeenmadeinfittingthesepiecestogether.Nevertheless,theexistingresearchraisesagreatmanyquestionsthatshouldhelptofocusempiricalresearchinthecomingyears.Amongthemorepressingissuesisadeeper
5、considerationoftheroleofintermediates,theroleofaggregationbiases,andofdifferencesinpatternsofabsorption.Thisworkshouldprovideamoresubstantialfoundationforfuturepolicyworkdevelopedwithinafactorcontentframework.DonaldR.DavisDavidE.WeinsteinDepartmentofEconomicsDepartmento
6、fEconomicsColumbiaUniversityColumbiaUniversity420West118thSt.420West118thSt.NewYork,NY10027NewYork,NY10027andNBERandNBERTel:212-854-4037Tel:212-854-6880Fax:212-854-8059Fax:212-854-8059Email:drd28@columbia.eduEmail:dew35@columbia.eduTheFactorContentofTradeDonaldR.Davisan
7、dDavidE.WeinsteinTheconceptofthefactorcontentoftradeoriginateswithVanek(1968).Theoriginalformulationisbasedonasimplemodelofinternationalfactorpriceequalization,orwhatismorepreciselytermedthe“integratedequilibrium”[HelpmanandKrugman(1985)].Underconditionsofcompetitioning
8、oodsandfactormarkets,freeinternationalarbitrage,commonconstantreturnstoscaletechnologies,andadequaterestrictio
