全球智库信息集成服务系统(G2TT): Non-homothetic multisector growth models.

G2TT

来源类型	Article
规范类型	其他
DOI	10.1111/rode.12139
	Non-homothetic multisector growth models.
	Jensen BJ; Lehmijoki U; Rovenskaya E
发表日期	2015
出处	Review of Development Economics 19 (2): 221-243
出版年	2015
语种	英语
摘要	Multisector growth (MSG) models are dynamic versions of computable general equilibrium (CGE) models. Non-homothetic preference (utility) functions are required for the evolution of factor allocations and industrial structures in accordance with consumption expenditure patterns implied by the non-unitary income elasticities observed in all budget data since Engel in the 1850s. But comparative static general equilibrium solutions and particularly solving the dynamics of MSG models require explicit spcifications of all demand and cost (price) functions. On the demand side, the constant differences of elasticity of substitution (CDES) on-homothetic indirect utility functions and Roy's identity provide the explicit Marshallian demand functions and budget shares. Sectorial constant elasticity of substitution (CES) cost functions and Shephard's lemma provide the explicit relative commodity price functions and the sectorial cost shares and capital-labor ratios. Walrasian equilibria are given by one equation and the multisector dynamics by three differential equations. Benchmark solutions are given for three cost regimes of a 10-sector MSG model. History patterns of indstrial/allocational evolutions are recognized.
主题	Advanced Systems Analysis (ASA)
URL	http://pure.iiasa.ac.at/id/eprint/11313/
来源智库	International Institute for Applied Systems Analysis (Austria)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/130269
推荐引用方式 GB/T 7714	Jensen BJ,Lehmijoki U,Rovenskaya E. Non-homothetic multisector growth models.. 2015.