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- W1971904464 abstract "Abstract For a neoclassical model of an open economy, Ronald Jones shows that for any factor, there is a change in the relative prices of outputs that improves its real reward unambiguously. We consider the real reward increase of any proper subset of factors. If the percentage increases in output prices are chosen in proportion to the chosen group's factor shares in corresponding sectors, then the real reward of each factor in the group increases and the real reward for every other factor falls. This result captures the idea that increases in relative prices of outputs tend to reward those factors that are `intensively' used in the production of the outputs." @default.
- W1971904464 created "2016-06-24" @default.
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- W1971904464 date "1997-09-01" @default.
- W1971904464 modified "2023-09-27" @default.
- W1971904464 title "Relative prices and improvement of real factor rewards in several sectors" @default.
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- W1971904464 doi "https://doi.org/10.1016/s0165-1765(97)00086-4" @default.
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