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Conceptually Based Measures of Structural Adaptability

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  • Kala Krishna

Abstract

This paper provides definitions and measures of the extent of adaptability of an economy to exogenous changes in product prices, factor availability and technological change. It is argued that flexibility can in general only be defined relative to the exogenous changes that occur. Using a dual approach, measures of flexibility in response to the particular exogenous shock are developed. In addition, a decomposition of the total change in National Income into its component parts including gains due to flexibility or losses due to inflexibility is developed.

Suggested Citation

  • Kala Krishna, 1992. "Conceptually Based Measures of Structural Adaptability," NBER Working Papers 4039, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:4039
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    1. Feldstein, Martin & Horioka, Charles, 1980. "Domestic Saving and International Capital Flows," Economic Journal, Royal Economic Society, vol. 90(358), pages 314-329, June.
    2. Martin Feldstein & Philippe Bacchetta, 1991. "National Saving and International Investment," NBER Chapters,in: National Saving and Economic Performance, pages 201-226 National Bureau of Economic Research, Inc.
    3. Richardson, J. David, 1971. "Constant-market-shares analysis of export growth," Journal of International Economics, Elsevier, vol. 1(2), pages 227-239, May.
    4. Obstfeld, Maurice, 1986. "Capital mobility in the world economy: Theory and measurement," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 24(1), pages 55-103, January.
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    Cited by:

    1. Kala Krishna & Marie Thursby, 1994. "Structural Flexibility: A Partial Ordering," NBER Working Papers 4615, National Bureau of Economic Research, Inc.

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