A Geometry of Specialisation

Abstract

Division of labour models have become a standard analytical tool, along with competitive general equilibrium models (Ricardian, HOS, Ricardo–Viner), in public finance, trade, growth, development and macroeconomics. Yet unlike the earlier models, these models lack a canonical graphical representation. This is because they are both new and complex, characterised by multiple equilibria, instability and emergent structural properties under parameter transformation. We develop a general framework for such models, illustrating results from current research on specialisation models, and explaining why one sub‐class of these models is particularly difficult to illustrate.

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