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Macro — A General Equilibrium Model

  • Hans-Holger Rogner

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, especifically of energy, on the evolution of GRP.

Keywords

Capital Stock Trade Balance General Equilibrium Model Energy Import Gross Regional Product 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Plenum Press, New York 1984

Authors and Affiliations

  • Hans-Holger Rogner
    • 1
  1. 1.International Institute for Applied Systems AnalysisIIASALaxenburgAustria

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