The Adjustment of Product and Factor Markets: An Application to the Pacific Northwest Forest Products Industry
构建了一个产出与要素市场的均衡模型，分析需求与要素供给变化对太平洋西北部林产品行业价格和就业的影响，发现要素供给弹性差异和替代效应是关键。
Abstract An equilibrium model of output and factor markets is used to calculate comparative static effects of demand and factor supply shifts on output and factor prices and employment in the Pacific Northwest forest products industry. The technological link between output and factor levels is provided through a three‐input production function. Results over the 1950–76 sample period suggest that changes in product‐to‐factor price ratios and factor employment are a consequence of differing factor supply elasticities and that factor supply shifts have limited effect on output price and employment levels because of substitution possibilities occurring in the production process and marketplace.