Distortions in Factor Markets and the General Equilibrium Model of Production
Distortions in Factor Markets and the General Equilibrium Model of Production
复制标题
要素市场的扭曲与生产的一般均衡模型
DOI:
10.1086/259762
复制
发表时间:
1971
影响因子:
8.2
通讯作者:
R. Jones
中科院分区:
文献类型:
--
作者:
R. Jones
A premium paid to a factor of production in one industry over the return earned by the same factor in the other industry in a two-sector model is a distortion that affects all factor prices and the general efficiency of production. It allows for the possibility that the industry employing the higher capital-labor ratio nonetheless pays labor a higher distributive share. In such a case, commodity outputs are inversely related to commodity prices. Furthermore, the paper explores how distortions can affect the shape of the transformation schedule and the optimal strategy to be followed by a factor of production intent on maximizing its returns.