Abstract
An Empirical Test of the Dixit-Norman Approach to Factor Price Equalization, Using Cointegration Techniques. — Factor price equalization (FPE) occurs when international trade equilibrium reproduces the integrated world equilibrium (IWE). This allows a straightforward test of a necessary condition for FPE provided one has an idea of the IWE. The author considers Germany as such for France, Belgium and the Netherlands. Cointegration estimation techniques are preferred to SURE, because of endogenity and nonstationarity of the variables. Using the coefficient restrictions, estimation is performed with French and Belgian factor endowments and German sector allocations. Finally, FPE is checked by testing appropriate coefficient restrictions. Concluding, the author finds no long-term trade equilibrium with FPE for the countries considered.
Zusammenfassung
Ein empirischer Test der Dixit-Norman-Methode zur Fak-torpreis-Angleichung unter Verwendung von Kointegrationstechniken. — Faktorpreisangleichung tritt ein, wenn das internationale Handelsgleichgewicht das integrierte Weltgleichgewicht widerspiegelt. Diese Tatsache ermöglicht einen einfachen Test der notwendigen Bedingungen für Faktorpreisangleichung, vorausgesetzt, man hat eine Vor-stellung vom integrierten Weltgleichgewicht. Der Verfasser betrachtet Deutschland als eine solche im Hinblick auf Frankreich, Belgien und die Niederlande. Er zieht Kointe-grationstechniken SURE vor, da die Variablen endogen und nicht stationÄr sind. Unter Verwendung von KoeffizientenbeschrÄnkungen führt er SchÄtzungen mit französischen und belgischen Faktorausstattungen und deutschen Sektorverteilungen durch. Schlie\lich überprüft er die Faktorpreisangleichung, indem er angemessene KoeffizientenbeschrÄnkungen testet. Im Ergebnis findet der Verfasser kein langfristiges Handels-gleichgewicht mit Faktorpreisangleichungen für die untersuchten LÄnder.
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