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One cone equilibrium |
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One cone equilibriumA free-trade equilibrium in the Heckscher-Ohlin Model in which prices are such that all goods can be produced within a single country, and there is only one diversification cone. This will arise if countries' factor endowments are sufficiently similar compared to factor intensities of industries. Contrasts with multi-cone equilibrium.Similar MatchesMarket equilibriumMarket equilibriumEquality of supply and demand. See equilibrium. Equilibrium rate of interestEquilibrium rate of interestThe interest rate that clears the market. Also called the trade-clearing interest rate. Equilibrium priceEquilibrium priceThe price when the supply of goods matches demand. Computable general equilibriumComputable general equilibriumRefers 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. Balance of payments equilibriumBalance of payments equilibriumMeaningful only under a pegged exchange rate, this referred to equality of credits and debits in the balance of payments using the traditional definition of the capital account. A surplus or deficit implied changing official reserves, so that something would ultimately have to change. Further SuggestionsDisequilibriumNash equilibrium Equilibrium Multi-cone equilibrium Equilibrium exchange rate Equilibrium position Equilibrium Two cone equilibrium Partial equilibrium General equilibrium Equilibrium level |
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