National Product Functions in Comparative Steady-State Analysis
利用对偶理论,研究小型开放经济中多部门模型的长期增长比较动态,分析参数变化对产出和要素价格的影响,发现短期和长期影响并非总是确定,但可建立参数变化与内生变量变化之间的相关性。
The structural properties of steady state are well understood for multisector models, but the comparative dynamics of long-run growth are much less developed. By exploiting duality theory, this paper obtains conclusions about these effects for a small, internationally-trading economy. Arbitrary numbers of consumption and capital goods, and a very general technology, are admitted. Definite conclusions about the short-run and long-run impact on outputs and factor prices are not always available, but often correlations can be established between vectors of parameter changes and endogenous variable changes. Copyright 1991 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.