Some Structural Changes In The United States And Japanese Economies
This paper is an attempt to quantify some interaction effects among capital accumulation, population growth and sectoral technical change in economic development. We tried to find a balance in the difficult trade-off just mentioned. We built a simple dynamic general equilibrium model along neoclassical lines. It is an agricultural-nonagricultural two sector model of a closed economy. Due to its simplicity, causal chains are easily traced. But we do not pretend to capture a complete model of development and recognize that the parameters of the model may change over time, i.e., that there is structural change. Therefore no simulations are performed with the model. Instead, we tried to find parameter values for the model at various stages of the development of the Japanese and U.S. economies, and observe the model under widely different resource endowments between the economies and over time.
|Date of creation:||1974|
|Date of revision:|
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- Ronald W. Jones, 1965. "The Structure of Simple General Equilibrium Models," Journal of Political Economy, University of Chicago Press, vol. 73, pages 557.
- Yamaguchi, Mitoshi, 1974. "Population Effects On The Economic Development Of Japan," Staff Papers 13780, University of Minnesota, Department of Applied Economics.
- Kaneda, Hiromitsu, 1968. "Long-Term Changes in Food Consumption Patterns in Japan, 1878-1964," Food Research Institute Studies, Stanford University, Food Research Institute, issue 01.
- Yamaguchi, Mitoshi & Binswanger, Hans P., 1974. "The Role Of Sectoral Technical Change In Development: Japan 1880-1965," Staff Papers 13278, University of Minnesota, Department of Applied Economics.
- Kelley, Allen C & Williamson, Jeffrey G, 1973. "Modeling Economic Development and General Equilibrium Histories," American Economic Review, American Economic Association, vol. 63(2), pages 450-58, May.
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