2011•Studies in Regional ScienceOpen access

Analysis of Patterns of Specialization in the Ricardo Model with Joint Production

Takeshi Ogawa

Abstract

In this paper we analyze patterns of trade in a Ricardian trade model with joint production. First, we treat a simple two-country and two-good case to derive the necessary and sufficient conditions for complete specialization of the world economy with joint production. Then, we move to a three-country and three-good case and show that, if joint production is allowed to exist, multiple production points of efficient complete specialization may occur. This is shown by a numerical example with illustrations of the world production frontier. We conclude that the conditions for complete specialization in joint production drastically differ from the case without joint production.JEL Classifications: D24, F14

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Key concepts: Joint (building), Production (economics), Production–possibility frontier, Economics, Frontier, Simple (philosophy), Microeconomics, Geography