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Title: Unequal exchange and absolute cost advantage: evidence from the trade between Greece and Germany
Authors: Tsaliki, Persefoni
Paraskevopoulou, Christina
Tsoulfidis, Lefteris
Type: Article
Subjects: FRASCATI::Social sciences
FRASCATI::Social sciences::Economics and Business
Keywords: Unequal exchange
Absolute cost advantage
Classical theory of value
Factor content
Input–output Tables
Input-output anlysis
Issue Date: Jul-2018
Publisher: Oxford University Press
Source: Cambridge Journal of Economics
Volume: 42
Issue: 4
First Page: 1043
Last Page: 1086
Abstract: This article investigates the nature and the salient features of international trade between Greece and her major trading partner Germany. The analysis inspired by the classical theory of value and distribution and using input–output data spanning the period 1995–2011 shows that the German economy possesses absolute cost advantage in its trade with Greece which gives rise to unequal exchange in the sense of transfers of labour values from Greece to Germany.
ISSN: 0309-166X
Other Identifiers: 10.1093/cje/bex060
Appears in Collections:Department of Economics

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