Prices and factor demand in an endogenized input-output model
AbstractThis paper combines factor demand functions (for intermediate input and labour) and price equations (derived from a Generalized Leontief cost function) with the traditional input-output price model. The cost functions determine factor demands for materials and labour as well as output prices at given input prices. At the second level of aggregation, the intermediate demand as a single input is split proportional to the elements in the column of the technical coefficients matrix. The emphasis in this endogenization of technical coefficients is on two features. First, the repercussion of output on input prices, and, second, the link between the econometric model for the supply side and the input-output demand model.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Economic Systems Research.
Volume (Year): 17 (2005)
Issue (Month): 1 ()
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Other versions of this item:
- Kurt Kratena, . "Prices and Factor Demand in an Endogenized Input-Output Model," WIFO Working Papers 135, WIFO.
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- Kurt Kratena & Gerold Zakarias, . "MULTIMAC IV: A Disaggregated Econometric Model of the Austrian Economy," WIFO Working Papers 160, WIFO.
- Dobrescu, Emilian, 2006. "Macromodel of the Romanian market economy (version 2005)," MPRA Paper 35749, University Library of Munich, Germany.
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