The Econometric SocietyEdited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262
Econometrica: Mar, 1971, Volume 39, Issue 2
https://doi.org/0012-9682(197103)39:2<219:TPCMAT>2.0.CO;2-A
p. 219-239
Ken-ichi Inada
The purpose of this paper is to generalize to the n-commodity, n-factor case the Stolper-Samuelson condition which has established a relationship between commodity prices and factor reward rates for the two-commodity, two-factor case, and to study some necessary and/or sufficient conditions for the generalized Stolper-Samuelson conditions. Two types of generalization are studied. One is the case where the inverse of the production coefficient matrix is a Minkowski matrix. Another is the case where it is a Metzler matrix. Some results about the former have already been obtained by some economists [1, 4, 8]. But the latter case has been left unexplored so far. The main purpose of this paper is to emphasize the necessity of studying the latter case and to obtain some results corresponding to those obtained for the former case. Another purpose of this paper is to establish a univalence theorem. When all principal minors of the Jacobian matrix are positive, univalence holds. This is the theorem by Gale and Nikaido [3]. In this paper, we prove that when all principal minors of the Jacobian matrix are negative, univalence holds. This theorem cannot be obtained trivially from Gale-Nikaido's theorem, but the technique employed by them for their proof can be used for our theorem.
March 5, 2024
The terms of the Editors of the Econometric Society's three journals end June 30, 2025. We are pleased to announce the incoming Editors and to thank the outgoing Editors for their excellent and continuing service.
Econometrica: Since 2019, Guido Imbens has served as the 14th Editor of Econometrica. On July 1, 2025, Marina Halac will become the Editor.
Quantitative Economics: Stéphane Bonhomme has been the Editor of Quantitative Economics since 2021. His successor will be Bernard Salanié.
Theoretical Economics: The Editor of Theoretical Economics since 2021 has been Simon Board. Taking over for him in July 2025 will be Federico Echenique.
Guido, Stéphane, and Simon have been outstanding Editors. We are grateful to them for the work they have done and will continue to do, and we look forward to further congratulating them next year. We believe Marina, Bernard, and Federico will be outstanding successors and we thank them in advance for their service.
Finally, we are grateful to Larry Samuelson for chairing all three search committees, and we thank the search committee members for their hard and fruitful work:
Econometrica: Christian Dustmann, Lars Hansen, Alessandro Lizzeri, George Mailath, Ariel Pakes, Helene Rey, and Elie Tamer.
QE: Kate Ho, Michael Keane, Felix Kubler, Whitney Newey, and Frank Schorfheide.
TE: Jeff Ely, Johannes Horner, Gilat Levy, Meg Meyer, and Ran Spiegler.
