ARTNeT Seminar on Testing the Heckscher-Ohlin-Vanek Paradigm in a World with Cheap Foreign Labour
In this ARTNeT Seminar held at 10:30am, 30th June 2014 at the UNCC Building, Bangkok, Professor Eric Fisher from California Polytechnic State University will base his talk on the paper "Testing the Heckscher-Ohlin-Vanek Paradigm in a World with Cheap Foreign Labour" co-authored with Kathryn Marshall. The paper measures factors services, not quantities, and examines the technologies and endowments of thirty-nine countries and five factors in 2005. The authors conduct three tests of the Heckscher-Ohlin-Vanek paradigm: (1) the conventional one; (2) a benchmark where every country has America’s technology; and (3) a test that converts foreign endowments into international efficiency units. The first predicts the direction of trade better than any former study. The second shows no statistically significant evidence of missing trade. The third performs just as well, and it accounts for international differences in both factor prices and unit input requirements.
Dr. Fisher is well recognized for his research in international economics and macroeconomics. He has published about 30 refereed articles in economics, political science, and physics including in the American Economic Review, Econometrica, the Journal of Economic Theory, and other preeminent scholarly journals.
Dr. Fisher has received many academic honors. He held the AGIP Professorship of International Economics at the Johns Hopkins University’s Bologna Center, and he was named a Jean Monet Fellow at the European University Institute. He is a Fellow of the CESifo Research Network.