Resource title

The structure of the American economy

Resource image

image for OpenScout resource :: The structure of the American economy

Resource description

We explore the relationship between input-output accounts and the national revenue function. The generalized inverse of an economy s technology matrix carries information relating changes in endowments with changes in outputs; its transpose relates output prices and factor prices. Our primary theoretical contribution is to derive an economy s revenue function for an arbitrary Leontief technology. Our main empirical contribution is to compute the national revenue function for the American economy in 2003 and to describe its properties. We implement our ideas using two different models: one where all factors are mobile and another with capital specific to each sector in the economy.

Resource author

Eric O'N. Fisher, Kathryn G. Marshall

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/26340

Resource license

Adapt according to the presented license agreement and reference the original author.