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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/26340
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| Title: | | The structure of the American economy  |
| Authors: | | Fisher, Eric O'N. Marshall, Kathryn G. |
| Issue Date: | | 2008 |
| Series/Report no.: | | CESifo working paper 2295 |
| Abstract: | | We explore the relationship between input-output accounts and the national revenue function. The generalized inverse of an economys 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 economys 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. |
| JEL: | | E01 D57 O47 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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