Multi-cone equilibrium


 

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Multi-cone equilibrium

A free-trade equilibrium in the Heckscher-Ohlin Model in which prices are such that all goods cannot be produced within a single country, and instead there are multiple diversification cones. This, or a two cone equilibrium, will arise if countries' factor endowments are sufficiently dissimilar compared to factor intensities of industries. Contrasts with one cone equilibrium.



Similar Matches

Partial equilibrium

Partial equilibrium

Equality of supply and demand in only a subset of an economy's markets -- usually just one -- taking variables from other markets as given. Partial equilibrium models are appropriate for products that constitute only a negligibly small part of the economy. They are used routinely (not always appropriately) for analysis of trade policies in single industries. Contrasts with general equilibrium.


Equilibrium exchange rate

Equilibrium exchange rate

Exchange rate at which demand for a currency is equal to the supply of the currency in the economy.


Computable general equilibrium

Computable general equilibrium

Refers to economic models of microeconomic behavior in multiple markets of one or more economies, solved computationally for equilibrium values or changes due to specified policies. The equations are anchored with data from the countries being modeled, while behavioral parameters are either assumed or adapted from estimates elsewhere.


Equilibrium position

Equilibrium position

Same as equilibrium level, though perhaps of several variables at once, perhaps as displayed in a graph.


Disequilibrium

Disequilibrium

1. Inequality of supply and demand. 2. A untenable state of an economic system, from which it may be expected to change.


Further Suggestions

Equilibrium
Market equilibrium
General equilibrium
Equilibrium price
Balance of payments equilibrium
Nash equilibrium
Equilibrium rate of interest
Equilibrium level
One cone equilibrium
Equilibrium
Two cone equilibrium


 
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