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Hartwick, John M.
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Queen's Economics Department Working Paper 34
This paper is in one sense the analysis of a particular case of the Hadley and Kemp model (described in the paper). We shall focus on two region or country trade with two orthodox commodities plus a produced transport commodity. We will observe that balance of payments disequilibrium is a general result with trade with endogenous transport costs and finally that reductions in transport costs may not result in factor prices moving closer together.
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Working Paper
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