## 经济代写|国际经济学代写International Economics代考|ECON6302

2022年9月23日
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## 经济代写|国际经济学代写International Economics代考|FACTOR PRICES AT THE POST-TRADE EQUILIBRIUM

Post-trade, there are some significant changes in the properties of the HOS model that deserve attention. The most important change compared to the situation under autarchy is that now the prices of the traded commodities are no longer determined in the local economy but in the world market in the way spelled out in Chapter 4 . Thus, prices $P_C$ and $P_T$ are now exogenous to the equation system (6.3)-(6.11). The local market equilibrium condition (6.11) is also no longer relevant because local demand and supply need not and should not match when trade opens up, as long as both computers and textiles can be traded. Thus local supplies and hence aggregate employment are no longer constrained by local demand.

There are two important implications of commodity prices being determined from ‘outside’ and exogenously given to the equation system. First, is that local demand and supply conditions affect commodity and factor prices only indirectly, if at all. Consider, for example, an exogenous change in consumers’ taste away from textiles in the home country. This will increase both the excess supply of textiles and the excess demand for computers. The home country’s offer of exports of textiles and import demand for computers thus rise. If the home country trades only an infinitesimally small proportion of the world trade volume, these increases will only have a very negligible effect on world demand. Hence, there will be no change in the relative price of its traded goods or the TOT that it faces. The home country in this case, being an insignificant buyer and seller, is a price taker in the world market. Like a perfectly competitive firm, it cannot influence world prices by changing its own trade volumes however large the change may be. That is, the demand conditions are irrelevant for a small is a large or significant buyer and seller in the world market, changes in the taste pattern and consequent change in its volume of trade will affect its TOT. TOT will deteriorate, that is, the relative price of its exports will fall in the world market in this instance. Such a price change will then affect factor prices. Thus, for a large home country changes in local demand conditions only indirectly affect commodity prices and factor prices in local markets. These cases contrast with the pre-trade situation where changes in local demand conditions affect prices directly. It is in this sense that the HOS model is a supply side model in the post-trade situation.
The second implication is the irrelevance of factor endowment and changes thereof for local factor prices in the home country. Referring back to the supply side equation system (6.3)-(6.7), it is immediate that once the traded commodity prices are determined in the world market, the price sub-system comprising of equations (6.3)-(6.5) are dichotomized from the physical sub-system comprising of equations (6.6)-(6.7). What this means is that factor prices, wage rate and the rate of return to capital, are determined solely by commodity prices, regardless of factor market conditions. Once again the factor endowment conditions matter only indirectly.

## 经济代写|国际经济学代写International Economics代考|A Fixed Coefficient HOS Model

An alternative to the production technology that allows for a menu of techniques of production as indicated by the smooth isoquants shown in Figure $6.1$ is the Leontief production technology. Such a technology allows for only one production technique (for each good) and is known as the fixed-coefficient production technology. Thus, the $a_{i j} \mathrm{~s}$ are no longer a choice variable as specified in equation (6.5), but are exogenously given. Changes in factor prices brought about by changes in commodity prices no longer affect the production technique in the two sectors. As a result, full employment of both factors of production cannot be maintained at all feasible commodity prices.

The core propositions, however, remain unchanged. For example, the output magnification effect will be precisely the same because it presumes constant commodity prices, which essentially fix factor prices and hence techniques of production. So it does not really matter whether production technology allows for only one or more than one technique of production. Moreover, this output magnification effect relates the supply bias of a country with its endowment bias, and accordingly the HO theorem remains valid. On the other hand, since the one-to-one correspondence depends on something else rather than a flexible coefficient production technology, the FPE theorem holds as well as long as these other conditions are satisfied as spelled out above.

The only change with a fixed coefficient production technology will be the shape of PPF and correspondingly the shape of the relative supply curve. Of course, as mentioned earlier, full employment of both labour and capital will not necessarily be characterizing the pre-trade equilibrium as well. To see this, consider Figure A6.1 where the full employment constraints are drawn. With a fixed coefficient production technology, these constraints will not change their positions when commodity prices and consequently factor prices change. PPF is generated by the lower envelope $K P L^{\prime}$ of these two constraints. This is because to the left of point $P$ the capital constraint is binding whereas to the right the labour constraint is binding. For any relative price of textiles that equals $\frac{a_{L T}}{a_{L C}}$, the economy can produce any combination of the two goods along the $P L^{\prime}$ segment. Thus, except for the bundle $P$ and the complete specialization bundle $L^{\prime}$, only labour will be fully employed and capital will be in excess supply.

# 国际经济学代考

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## MATLAB代写

MATLAB 是一种用于技术计算的高性能语言。它将计算、可视化和编程集成在一个易于使用的环境中，其中问题和解决方案以熟悉的数学符号表示。典型用途包括：数学和计算算法开发建模、仿真和原型制作数据分析、探索和可视化科学和工程图形应用程序开发，包括图形用户界面构建MATLAB 是一个交互式系统，其基本数据元素是一个不需要维度的数组。这使您可以解决许多技术计算问题，尤其是那些具有矩阵和向量公式的问题，而只需用 C 或 Fortran 等标量非交互式语言编写程序所需的时间的一小部分。MATLAB 名称代表矩阵实验室。MATLAB 最初的编写目的是提供对由 LINPACK 和 EISPACK 项目开发的矩阵软件的轻松访问，这两个项目共同代表了矩阵计算软件的最新技术。MATLAB 经过多年的发展，得到了许多用户的投入。在大学环境中，它是数学、工程和科学入门和高级课程的标准教学工具。在工业领域，MATLAB 是高效研究、开发和分析的首选工具。MATLAB 具有一系列称为工具箱的特定于应用程序的解决方案。对于大多数 MATLAB 用户来说非常重要，工具箱允许您学习应用专业技术。工具箱是 MATLAB 函数（M 文件）的综合集合，可扩展 MATLAB 环境以解决特定类别的问题。可用工具箱的领域包括信号处理、控制系统、神经网络、模糊逻辑、小波、仿真等。