Process Recurrence and Input Use at the Industry Level: A Coherent Long-Period Analysis
AbstractThe familiar partial equilibrium analysis of an individual industry's use of a particular input involves changing only one price (that of the particular input in question), even when long period equilibrium is considered. But this is incoherent, other than in fluke cases, since such a price change will always force other industries out of long period equilibrium. When this incoherence is removed, and equilibrium is taken seriously, the comparative statics results obtained can differ sharply from those derived from the familiar analysis.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Economic Issues in its journal Economic Issues.
Volume (Year): 7 (2002)
Issue (Month): 1 (March)
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statistics
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dan Wheatley).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.