Singular value decomposition of a technology matrix

Eric Fisher

International Journal of Economic Theory, 2014, vol. 10, issue 1, 37-52

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This paper is the first application of the singular value decomposition (SVD) in general equilibrium theory. Every technology matrix can be decomposed into three parts: a definition of composite commodities; a definition of composite factors; and a simple map of composite factor prices into composite goods prices. This technique gives an orthogonal decomposition of the price space into two complementary subspaces: vectors that generate the price cone; and a basis that describe the flats on the production possibility frontier. This decomposition can be used easily to compute Rybczynski effects.

Date: 2014
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