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Hviler Dansk Økonomi på en Cobb-Douglas teknologi?

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  • Harck, Søren

    () (Department of Economics, Aarhus School of Business)

Abstract

Prisdannelsen og faktorefterspørgslen i Det økonomiske Råds sekretariats SMEC-model af dansk økonomi har siden 1998 været teoretisk begrundet i en underliggende Cobb-Douglas teknologi (i kombination med en antagelse om omkostningsminimering). I SMEC-forgængeren SMEC 94 var det derimod markup-pricing, der blev påberåbt som det teoretiske rationale. Denne artikel giver for det første en stiliseret fremstilling af, hvordan DØRS forestiller sig Cobb-Douglas set-up’et bestemme BFI- deflatoren og prisen på indenlandsk produktion. Mere væsentligt demonstrerer artiklen for det andet, at det anførte teoretiske rationale er hult: at prisrelationerne og faktorefterspørgslen i bund og grund er tautologier, og at prisdannelsen i SMEC 99 trods det ydre skin er uden egentlig teoretisk forankring

Suggested Citation

  • Harck, Søren, 2005. "Hviler Dansk Økonomi på en Cobb-Douglas teknologi?," Working Papers 05-12, University of Aarhus, Aarhus School of Business, Department of Economics.
  • Handle: RePEc:hhs:aareco:2005_012
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    JEL classification:

    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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