Discuss the role of dynamic factors in international trade with diagrams
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Dynamic Specific-Factors Model of International Trade. In a dynamic economy land and capital serve not only as factors of production but as assets which individuals use to transfer income from working periods to retirement. ... In this case the land-using sector dominates factor markets more than asset markets.
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Dynamic Specific-Factors Model of International Trade. In a dynamic economy land and capital serve not only as factors of production but as assets which individuals use to transfer income from working periods to retirement. ... In this case the land-using sector dominates factor markets more than asset markets.
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