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The making of the Leif Johansen multi-sectoral model

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  • Olav Bjerkholt

    () (University of Oslo & Statistics Norway - Department of Economics)

Abstract

The paper traces the roots of Leif Johansen’s 1960 monograph A Multi-Sectoral Study of Economic Growth, recognized as the first computable general equilibrium (cge) model. Although Johansen might have been much attracted towards a purely theoretical study of a multi-sectoral equilibrium growth process he chose to construct an empirical model, calibrated to fit the Norwegian economy in 1950. Johansen’s Model combined Leontief ’s input-output analysis with Solow-type production functions and a Frisch-influenced specification of consumption demand. His work became influential on the further cge development. Johansen died at the age of 52 in 1982 and is regarded as the (only) intellectual heir of his teachers Ragnar Frisch and Trygve Haavelmo in originality and profoundness.

Suggested Citation

  • Olav Bjerkholt, 2009. "The making of the Leif Johansen multi-sectoral model," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 17(3), pages 103-126.
  • Handle: RePEc:hid:journl:v:17:y:2009:3:5:p:103-126
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    Cited by:

    1. Holmøy, Erling, 2016. "The development and use of CGE models in Norway," Journal of Policy Modeling, Elsevier, vol. 38(3), pages 448-474.
    2. Førsund, Finn R. & Vislie, Jon, 2016. "Leif Johansen on intra-industry structural change," Journal of Policy Modeling, Elsevier, vol. 38(3), pages 515-527.
    3. Olav Bjerkholt, 2014. "Ragnar Frisch and the Postwar Norwegian Economy: A Critical Comment on Sæther and Eriksen," Econ Journal Watch, Econ Journal Watch, vol. 11(3), pages 297-312, September.
    4. R. Førsund, Finn & Vislie, Jon, 2011. "From Macro Growth to Disaggregated Production Studies," Memorandum 22/2011, Oslo University, Department of Economics.
    5. Bjerkholt, Olav & Førsund, Finn R. & Holmøy, Erling, 2016. "Commemorating Leif Johansen (1930–1982) and his pioneering computable general equilibrium model of 1960," Journal of Policy Modeling, Elsevier, vol. 38(3), pages 415-420.
    6. Holmøy, Erling & Strøm, Birger, 2013. "Computable General Equilibrium Assessments of Fiscal Sustainability in Norway," Handbook of Computable General Equilibrium Modeling, Elsevier.

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