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The Heckscher–Ohlin model (/hɛkʃr ʊˈliːn/, H–O model) is a general equilibrium mathematical model of international trade, developed by Eli Heckscher and Bertil Ohlin at the Stockholm School of Economics.
1866 cartoon by Daumier, L’Equilibre Européen, representing the balance of power as soldiers of different nations teeter the earth on bayonets. The balance of power theory in international relations suggests that states may secure their survival by preventing any one state from gaining enough military power to dominate all others. [1]
Trade equilibrium: both countries consume the same (=), especially beyond their own Production–possibility frontier; production and consumption points are divergent. The Heckscher–Ohlin theorem is one of the four critical theorems of the Heckscher–Ohlin model , developed by Swedish economist Eli Heckscher and Bertil Ohlin (his student).
Country foreign exchange reserves minus external debt. In international economics, the balance of payments (also known as balance of international payments and abbreviated BOP or BoP) of a country is the difference between all money flowing into the country in a particular period of time (e.g., a quarter or a year) and the outflow of money to the rest of the world.
In international relations, the concept of balancing derives from the balance of power theory, the most influential theory from the realist school of thought, which assumes that a formation of hegemony in a multistate system is unattainable since hegemony is perceived as a threat by other states, causing them to engage in balancing against a potential hegemon.
The Ricardian model is a general equilibrium mathematical model of international trade. Although the idea of the Ricardian model was first presented in the Essay on Profits (a single-commodity version) and then in the Principles (a multi-commodity version) by David Ricardo , the first mathematical Ricardian model was published by William ...
Hegemonic stability theory (HST) is a theory of international relations, rooted in research from the fields of political science, economics, and history.HST indicates that the international system is more likely to remain stable when a single state is the dominant world power, or hegemon. [1]
International arbitrage pricing theory (IAPT) is an important extension of the base idea of arbitrage pricing theory which further considers factors such as exchange rate risk. In 1983 Bruno Solnik created an extension of the original arbitrage pricing theory to include risk related to international exchange rates hence making the model ...