THE STRUCTURE OF METROPOLITAN FACTOR AND PRODUCT MARKETS*
使用超越对数利润函数估计美国大都市区的要素需求与产出供给系统，发现所有价格弹性均为弹性且符号符合预期，税收政策显著影响要素需求，公共投资对产出有正向但较小且随时间减弱的作用，私人资本对产出和就业的影响远大于公共资本。
ABSTRACT. In this study we use a translog profit function and iterate seemingly unrelated regressions to estimate a system of factor demand and output supply functions for metropolitan economies. Our sample includes all metropolitan areas defined by the Census in 1977 for the period 1962 to 1982. Estimation shows that all price elasticities are elastic and that the signs are as expected. These results hold true for virtually all model specifications. Our findings indicate that federal, state, and local tax policies have significant impacts on factor demand and output supply. Public investment plays a positive and significant, but small, role in increasing output and in complementing other factors, although this influence has declined over time. Additionally, capital provided by the private sector has a substantially larger impact on output and employment than does capital provided by the public sector.