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It most commonly refers to an index, called the Balassa index, introduced by Béla Balassa (1965). [1] In particular, the revealed comparative advantage of country c {\displaystyle c} in product/commodity/good p {\displaystyle p} is defined by:
Complementary goods exhibit a negative cross elasticity of demand: as the price of goods Y rises, the demand for good X falls. In economics, a complementary good is a good whose appeal increases with the popularity of its complement.
The World Integrated Trade Solution (WITS) is a trade software provided by the World Bank for users to query several international trade databases.. WITS allows the user to query trade statistics (export, import, re-exports and re-imports) from the UN's repository of official international trade statistics and relevant analytical tables (UN COMTRADE), tariff and non-tariff measures data from ...
(In practice, governments restrict international trade for a variety of reasons; under Ulysses S. Grant, the US postponed opening up to free trade until its industries were up to strength, following the example set earlier by Britain. [33]) Nonetheless there is a large amount of empirical work testing the predictions of comparative advantage ...
Elasticity of complementarity (Hamermesh, 1993) is the percentage responsiveness of relative factor prices to a 1 percent change in relative inputs. Mathematical definition [ edit ]
The Grubel–Lloyd index measures intra-industry trade of a particular product. It was introduced by Herb Grubel and Peter Lloyd in 1971. = (+) ...
The general definition of the elasticity of X with respect to Y is = % % , which reduces to = for infinitesimal changes and differentiable variables. The elasticity of substitution is the change in the ratio of the use of two goods with respect to the ratio of their marginal values or prices.
In mathematics, a supermodular function is a function on a lattice that, informally, has the property of being characterized by "increasing differences." Seen from the point of set functions , this can also be viewed as a relationship of "increasing returns", where adding more elements to a subset increases its valuation.