Academic publications
Trade with three factors of production
Simulated
models of production and trade
Expanding the scope of general
equilibrium factor proportions model of production and trade
The fixed factor proportions model of production and
trade
Keio Economic Studies
(2010) 17-28
Production and trade with fixed input
coefficients and multiple inputs
Stolper-Samuelson production box
In Famous Figures in Economics (2010)
edited by Peter Lloyd and Marc Blaug, Edward Elgar
Publishers
The Stolper-Samuelson-Edgeworth diagram in the history of economic thought
Breaks in the chain of comparative advantage
with Kwan Choi, International Review of Economics and Finance (2009) 346-8
Abundant countries and intensive exports,
with full employment
Bilateral factor abundance and intensity with many
factors, products, and countries
with Dajun Tuo, The CJU Journal of Business and
Economics (2009) 6-16
Measures of factor abundance
and intensity for any number of factors, products, and countries
Endogenous trade and factor proportions production
International Journal of Economic Research (2007) 171-7
Marshall-Heckscher-Ohlin-Samuelson
offer curves
General equilibrium production with constant elasticity
of substitution
with Hugo Toledo, Keio Economic Studies (2007) 27-36
General equilibrium
production and trade theorems assuming CES production
An empirical measure of factor
intensity when there are many factors and many products
The
International Trade Journal
(2007) 109-19
Mean weighted factor intensity in high
dimensional models of production and trade
Euclidean distance is a general measure of
factor abundance
Aggregation and applied trade theory
Journal
of Economic Integration
(2005) 604-12
Aggregation, intra-industry trade,
substitution, factor intensity, factor abundance, and prices
Duopoly quotas and relative import
quality
with Randy Beard, International
Review of Economics and Finance (2003) 275-81
Quotas in an
international duopoly, trade volume, import quality, and domestic quality
Factor intensity as Euclidean distance
Keio Economic Studies (2003) 1-7
Euclidean distance generalizes factor
intensity to any number of factors and products
Parametric relaxations of assumptions and the
Stolper-Samuelson intensity price link
Price taking monopolies in small open
economies
Open Economies Review (2002) 205-9
A monopoly trader in a small open economy
searches for output to maximize profit
Measuring factor abundance across many
factors and many countries
with Farhad Rassekh, Open Economies Review (2002) 237-49
The various measures of factor abundance
prove inferior to mean weighted abundance
Definitions of factor abundance and
the factor content of trade
Open Economies Review (1999) 385-93
Weak factor abundance and the Heckscher-Ohlin theorem
The trade balance in general equilibrium with
an stockpile of the export
Product differentiation tied to the general
equilibrium for competitive trade models
Production frontiers and relative price
curves
Properties of nontraded
goods and specific capital inputs
International differences in
production functions and factor price equalization
Keio Economic Studies (1997) 43-54
Trade theorems with similar production
functions across countries
The relevance of factor price
convergence
The balance of payments and international
capital in general equilibrium
Aggregate unemployment with Okun’s law in general equilibrium
Price conditions that support FTZs
Updates Chipman’s Econometrica
surveys
Migration, real income, and utility
Intransitive migration friends, transitive
migration enemies
Trade theory with three factors of production
General equilibrium with the classical
assumption of labor, capital, and land inputs
International trade with three factors, goods, or
countries, Keio Economic
Studies (2001) 43-52
Akira Takayama
noted three is a magic number for economics
Maybe with three inputs
A tariff may not attract international
capital to an import competing industry with two domestic inputs
Foreign managers migrate according to
international demand and may carry capital with them
With three factors there are thirteen
magnification effects, with two factors there is only one
Factor intensity reversals and industrial
shutdowns with three factors
Maybe not, with a minimum of three factors of
production
With three factors, factor price polarization
can occur with free trade
Complements in the three factor model
Sector specific capital and perfectly elastic
international capital supply
International capital and two domestic
factors of production
Simulated Theoretical Models of Production and Trade
Simulations exploring quantitative properties
of general equilibrium factor proportions and specific factors models
US
pork and China trade in a specific factors model
with Osei-Agyeman and Yeboah Victor Ofori Boadu, Agricultural Economic Review (2012) 76-82
A look at the effects of expanding US exports of pork to China
Alabama forest products and the potential impacts of FTAA
price changes
with Mostafa
Malki, Osei Yeboah, Journal of Economic
Integration (2010) 130-43
Alabama forest products adjust in a specific
factors model with labor and energy inputs
Labor skills and factor proportions trade in the Gulf
Cooperation Council
with Hugo Toledo, International Review of Economics and
Finance (2010) 407-11
Skill intensity and abundance suggest potential for trade
between modern and traditional GCC economies
Tariff elimination and the wage gap in an industrial
specific factors model
with John Francis, Review of International Economics (2009) 447-60
Tariffs and the skilled wage gap in a specific factors
model with 458 US manufacturing industries
A specific factor model of FTAA and North Carolina
textile and apparel
with Mostafa Malki, Osei Yeboah, International Economic Journal (2009)
227-36
Impact of FTAA on returns to industry specific capital, output, wages by
skill
The
impact of a BSE outbreak in a specific factors model
with Osei-Agyeman Yeboah, Victor Ofori-Boadu, International
Journal of Applied Economics (2010) 47-57
Adjustments to a collapse in the price of
beef
Free trade with Cuba: The effects of a lifted embargo in
Alabama
with Curtis Jolly, Southern
Economics and Business Journal (2008) 83-92
with Josip Funda, Mia Mikiç, International
Economics and Finance Journal (2006) 157-69
Adjustments to Croatia entering the EU in a
specific labor model with 23 industries
Factor intensity and
prices have stronger effects than substitution and foreign capital
FTAA and Colombia: Income distribution across labor
groups
with Hugo Toledo, International Review of
Economics & Finance (2005)
203-12
Income redistribution in Colombia due to FTAA
helps unskilled labor
Bolivian manufacturing, natural gas,
agriculture, services, and mining adjust to Mercosur
Eight labor skill groups, factor intensify
predicts effects of tariffs
Free trade lowers the unskilled wage but
raise the skilled wage and capital return
Specific factors model, unskilled labor loses
relative to skilled labor
Factor intensity has more influence on the
comparative static adjustments
Across a number of LDCs, free trade helps
labor and capital but hurts skilled labor
Comparative static model, data at two digit
industry level, skilled versus unskilled labor
Foreign investment and emigration raise
unskilled wages across LDCs
Comparative static model with capital and
eight labor skills in manufacturing, agriculture, services
Factor migration on factor prices in Canada
Unskilled immigrants raise skilled wages and
capital return
Stolper-Samuelson time series: Long term US wage adjustment
Review of Development Economics (2012) 148-55
US wage adjustments during 1949-2006 in the Stolper-Samuelson
theorem
US cotton exports and bilateral exchange rates
with Nazif Durmaz, Agricultural Economic Review (2012)
76-82
Bilateral exchange rates provide
better explanatory power than average rates
The history and potential of trade between Cuba and the
US
with Cassandra Copeland, Curtis Jolly, Journal of Economics and Business (2012)
163-74
Cuba’s pre-Castro economic partner was
the US, predicting the post-Castro era
Estimating the Heckscher-Ohlin
model: Inverting the inverse matrix
International
Review of Economics and Finance (2011) 185-92
Estimated comparative static model and
implied properties of substitution and intensity
The Cuban embargo and Southeastern agricultural exports
with
Cassandra Copeland, Southern Economics
and Business Journal (2010) 81-92
A market model predicts agricultural
exports from US Southeastern when embargo is lifted
Wages in a factor proportions time series model of the US
Journal of International Trade and Economic
Development (2010) 241-56
Estimated wage effects in the context of
theory, 1949-2006.
Productivity, imports, and the softwood
lumber dispute
with Venkatarao Nagubadi, Daowei Zhang, The International
Trade Journal (2009) 301-29
Canada/US softwood lumber dispute, US
protection lowers productivity
Lost protection and wages: Some time
series evidence for the US
with Cassandra Copeland, International Review of Economics and Finance (2007) 603-6
Effect of falling US tariffs from the
mid-1960s on wages minor, 18% tariff would raise wages 1%
Exchange rates and commodity markets:
Global trade in corn, cotton, poultry, and soybeans
with Abdul Almarwani, Curtis Jolly, Agricultural Economics Review (2007)
77-86
Effects of bilateral exchange rates
inconsistent, no exchange risk effects
Free trade and a case of local tomato production
with Abdul Almarwani, Curtis Jolly, Agricultural Economics Review (2007)
69-78
Estimated loss of $17 million in Alabama
tomato production during the first 8 years of NAFTA
Stolper-Samuelson theorem estimate consistent with
factor proportions theory, OECD countries 1970-1985
Economic
growth with a nonrenewable energy resource
Journal of Energy and Development
(2012) 35-43
Economic
growth with capital, labor, and a depleting nonrenewable resource
Economic growth and foreign capital
Review
of Development Economics
(2008) 694-701
separate foreign and domestic capital imply
incomplete convergence, trade imbalance, steady state capital flow
Foreign investment and transition in Central/Eastern
Europe along the phase curve
with Valentina Hartarska, Applied Econometrics and International
Development (2008) 67-78
Foreign investment
contributes to growth along phase curve across 27 countries during the
transition, 1997-2003
An analysis of the impact of freedoms on economic growth
with John Kagochi, Nii Tacki, Journal of African Development (2007) 13-29
In Nigeria 1970-2000, political freedom and investment
stimulate growth, economic freedom and oil price do
not
Weak influence of exports on growth in Taiwan
weaken argument for export subsidies
The real exchange rate and the balance of trade in US
tourism
with Ka Ming Cheng, Hyeongwoo Kim, International
Review of Economics and Finance (2013) 122-8
Depreciation raises tourism revenue but no
effect on import spending or tourism trade balance, 1973-2010
The exchange rate and US tourism trade, 1973-2007
with Ka Ming Cheng and
Hyeongwoo Kim, Tourism Economics
(2013)
Weak policy in an open economy: The US with a floating exchange rate,
1974-2009
Economic Analysis and Policy (2012)
339-350
Monetary
expansion weakly raises real income per capita and fiscal “expansion” is
strongly counterproductive
The euro switch had no effect while
depreciation slightly raised tourism revenue, 1974-2006
Exchange rates, exchange risk, and Asian export revenue
with WenShwo Fang and YiHao Lai, International
Review of Economics and Finance (2007) 237-54
Any positive effect of depreciation on export
revenue offset by exchange risk, Asian export markets behave differently
Third country news in the monetary model of the exchange
rate
with John Jackson and Juliet Zheng, Applied Financial Economics (2005) 757-64
“News” on the dollar affects cross exchange
rates
Strong local effects of depreciation on
Alabama industrial exports since 1970s
Devaluations have little impact on the trade
balance in India
Cross section translog
production and elasticity of substitution in US manufacturing industry
with Sooriyakumar Krishnapillai, International Journal of Energy
Economics and Policy (2012) 50-54
Estimates of substitution across US states
A note on the oil price trend and GARCH shocks
with Jing Li, The Energy Journal (2010) 185-91
Long term monthly persistence in the variance of oil price shocks, deterministic trend, 1990-2008
Oil depletion and terms of trade, Keio Economic Studies (2007) 19-25
Offer curves with optimal
depletion, backward bending offer curve, price, and extraction paths for the
coming century
The applied theory of energy
substitution in production
Energy Economics (2006) 410-25
The theory behind
estimating substitution between energy and other inputs
The first step in restructuring the US electric industry
with Andy Barnett, Keith Reutter, Energy Economics (2005) 225-35
In the early 1900s competitive local
utilities lobbied for state franchised un-natural monopoly power
Clean
air stranded costs: How big?
with Andy Barnett, Justin Isaacs, The
Electricity Journal (2002) 64-8
Clean
Air Act promises to strand more utility capital than competition
Retail competition and interstate
electricity trade in the Southeast
with Andy Barnett and Justin Isaacs, The
Electricity Journal (2002) 68-74
Retail competition leads to substantial
consumer gains in high price states and losses in low price states
Short circuits in energy markets: California and competition
The Electricity Journal (2001) 72-3
Vertical
integration of refineries back into pipelines and oil fields raises stock
ratings
Do
wages increase with an energy tax due to substitution in production?
Increased Alabama exports of electricity
would raise the demand for substitutes capital and labor
Moderate substitution between electricity and
other inputs in Greece
Privatization and
deregulation of the electricity industry
with Andy Barnett, Business and Economics for the 21st Century
(1997) 350-58
A look at the
recent trend toward less regulation and more competition
Substitution elasticities with many inputs
Applied Mathematics Letters (1997) 123-7
A theoretical
comparison of cross price elasticities of
substitution
Bottom feeding as well as the typical cream
skimming are possible for regulated monopolies
Resource rights and markets in a general equilibrium
model of production
Environmental and Resource Economics (2013)
An open
access resource distorts production and lowers output for the sector under
otherwise competitive economic conditions
News and volatility of food prices
with Yuqing Zheng, Henry Kinnucan, Applied Economics (2007) 1-7
Unexpected
changes and volatility impact commodity prices
Industrial subsidies in Alabama:
Economic impact across counties
with Anthony Gadzey,
Osei Yeboah, Southern Economics and
Business Journal (2005) 130-6
1% rate of return on industrial relocation
subsidies across 30 Alabama counties for 20 years
State
economic incentives: Stimulus or reallocation?
with Pete Cacalgno, Public Finance Review (2004) 651-65
Reallocation
with no net stimulus across US states
Capital intensive export industries doing
well while labor intensive industries struggle
Income distribution within and across
countries
Efficiency and privatization, nationalized to
regulated to deregulated industries
A collection of memories from colleagues
International Economics: Global Markets and
Competition 3rd
edition World Scientific (2011)
Trade, Growth, and Poverty Reduction by T.N. Srinivasan
International
Review of Economics and Finance
(2010)
Handbook on International Trade Policy
edited by Kerr and Gaisford
American
Journal of Agricultural Economics
(2009)
Economics of International Trade and the
Environment by Batabyal and Beladi
American Journal of Ag Economics (2004)