LONG-PERIOD POSITIONS IN MULTI-SECTORAL COBB-DOUGLAS ECONOMIES

Wolfgang Eichert

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LONG-PERIOD POSITIONS IN MULTI-SECTORAL COBB-DOUGLAS ECONOMIES

机译：多部门柯布-道格拉斯经济中的长周期位置

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The present paper considers a constant returns to scale non-joint production economy with one primary factor (labour). It follows from the non-substitution theorem that macroeconomic variables are completely determined by the wage-profit distribution in a long-period position. We investigate the special case in which production in each sector as well as consumption are characterized by means of Cobb-Douglas functions. Despite the non-linearity, this parametrization allows us to compute sectoral and macroeconomic variables in simple and intuitive equations. As noted in earlier literature, many variables behave differently than would be expected on basis of a one-sectoral Solow growth model.

机译：本文考虑具有一个主要因素（劳动力）的规模化非联合生产经济的恒定收益。从非替代定理得出，宏观经济变量完全由长期的工资利润分布决定。我们调查通过Cobb-Douglas函数表征每个部门的生产和消费的特殊情况。尽管存在非线性，但这种参数化使我们能够以简单直观的方程式计算部门和宏观经济变量。如早期文献所述，许多变量的行为方式与一部门Solow增长模型所预期的不同。

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《Metroeconomica》 |2014年第1期|136-153|共18页
作者
Wolfgang Eichert;
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Department of Economics University of Graz Universitaetsstrasse 15/F4 8010 Graz Austria;

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LONG-PERIOD POSITIONS IN MULTI-SECTORAL COBB-DOUGLAS ECONOMIES

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