Macro — a general equilibrium model

Rogner Han-H (1984). Macro — a general equilibrium model. In: Physics and Contemporary Needs. Eds. Khan, A.M., Riazuddin, S., Qadir, A. & Qasi, M.N., pp. 127-143 U.S.A.: Springer. ISBN 978-1-4684-4724-8 DOI:10.1007/978-1-4684-4724-8_8.

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Abstract

The model presented here relates labor force, capital requirements, energy use and technological change to Gross Regional Product (GRP) by means of an aggregate production function. Demand functions for the primary inputs namely capital, labor, and energy have been derived from the above production function. These are complemented by factor supply functions. The model clears the market for energy, capital and labor by means of factor price adjustments. Thus, the model is capable of assessing the effects of future factor prices or factor availability, specifically of energy, on the evolution of GRP.

Item Type: Book Section
Research Programs: Energy Program (ENP)
Depositing User: Romeo Molina
Date Deposited: 26 Feb 2016 10:38
Last Modified: 26 Feb 2016 10:38
URI: http://pure.iiasa.ac.at/12071

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