The Characteristics of the Productive Structure Behind the Empirical Regularities in Production Prices Curves

Luis Daniel Torres-González

Structural Change and Economic Dynamics, 2022, vol. 62, issue C, 622-659

Abstract: This paper contributes to the identification of the structural characteristics of the input-output accounts (IOA) behind the persistent simple behavior of relative production prices and capital intensities as an effect of changes in income distribution. These characteristics of the IOA are statistical in nature and refer to the strong proportionality between (i) the labor-coefficients vector and the Perron-Frobenius eigenvector of the input-coefficients matrix and (ii) the columns of this input matrix. Both statistical characteristics not only reduce the sources of nonlinearity in the price and capital intensity functions of the profit rate but also produce the statistical tendency of industry’s capital intensities to cluster around central values with a limited variability irrespectively of the profit rate. The empirical results are based on the U.S. economy for the period 1977-2012.

Keywords: Production prices; Capital intensities; Spectral decomposition; Productive structure (search for similar items in EconPapers)
JEL-codes: B51 C67 D57 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0954349X22000558
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:streco:v:62:y:2022:i:c:p:622-659

DOI: 10.1016/j.strueco.2022.04.007

Access Statistics for this article

Structural Change and Economic Dynamics is currently edited by F. Duchin, H. Hagemann, M. Landesmann, R. Scazzieri, A. Steenge and B. Verspagen

More articles in Structural Change and Economic Dynamics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().