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T.M Rybczynski
8
Transcript
THANK YOU!
Tadeusz Rybczynski
Biography
- Born in May of 1923 in Lvov, Ukraine.
- Moved to Britain in 1942.
- Entered education at London School of Economics.
- Joined Lazard Brothers in 1954 and retired at 1986.
- Rybczynski published the Rybczynski Theorem in 1955, which is remained an extremely useful building block of international theory.
- Rybczynski died in December of 1998 in London, Britain.
T. M. Rybczynski
Rybczynski Theorem
If you hold output prices constant as the amount of a factor of production increases, then the supply of the good that uses this factor intensively increases and the supply of the other good decreases.
INTERNATIONAL
ECONOMIC
ANALYSIS
I32004 Ji Yong Ahn
Key Issues of Rybczynski Theorem
- The Rybczynksi Theorem shows there is a positive relationship between changes in a factor endowment and changes in the output of the product that uses that factor intensively.
- The Rybczynski Theorem shows there is a negative relationship between changes in a factor endowment and changes in the output of the product that does not use that factor intensively.
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