Specific factors model

 

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Specific factors model

A model in which some or all factors are specific factors. The most common version is the Ricardo-Viner Model, with one specific factor (often capital or land) in each industry plus another factor (often labor) that is mobile between them. But an extreme form of the model, the Cairnes-Haberler Model, has all factors specific.



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Firm specific news

Firm specific news

News that affects only a specific firm. Market news by contrast affects many firms.


Non-specific subsidy

Non-specific subsidy

A subsidy that is available to more than a single specific industry and is therefore non-actionable under WTO rules.


Specific legacy

Specific legacy

See 'legacy'.


Specific Return

Specific Return

The part of the excess return not explained by common factors. The specific return is independent of (uncorrelated with) the common factors and the specific returns to other assets. It is also called the idiosyncratic return.


Specificity

Specificity

The property that a policy measure applies to one or a group of enterprises or industries, as opposed to all industries.


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Specificity rule
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