Further evidence on the law of factor proportionality in multiple households closed CGE models
In: Applied Economics Letters, Jg. 24 (2016-09-21), S. 831-836
Online
unknown
Zugriff:
This article provides additional evidence that factor contents of different consumers’ consumption bundles computed from multiple households closed Computable General Equilibrium (CGE) models are approximately proportional. This empirical regularity has been observed up to now for a total of 11 CGEs for very diverse countries, and we therefore state it as law. It implies that these models display price rigidity with respect to endowment re-allocations, an observation which has broad implications for their capacity to capture general equilibrium effects.
Titel: |
Further evidence on the law of factor proportionality in multiple households closed CGE models
|
---|---|
Autor/in / Beteiligte Person: | Balasko, Yves ; Octávio Augusto Fontes Tourinho |
Link: | |
Zeitschrift: | Applied Economics Letters, Jg. 24 (2016-09-21), S. 831-836 |
Veröffentlichung: | Informa UK Limited, 2016 |
Medientyp: | unknown |
ISSN: | 1466-4291 (print) ; 1350-4851 (print) |
DOI: | 10.1080/13504851.2016.1231891 |
Schlagwort: |
|
Sonstiges: |
|