The Planner and the Market: The Takayama Judge Activity Model

Ronny Norén
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Ronny Norén: Mid Sweden University

Chapter Chapter 3 in Equilibrium Models in an Applied Framework, 2013, pp 21-54 from Springer

Abstract: Abstract The linear programming formulation of the Leontief input–output model, established as the linear activity analysis model, represents an advancement in the construction of applied general equilibrium models, because it introduces a great deal of flexibility into the basic linear input–output structure. The lack of price-induced substitution was overcome by the development of the linear activity model. By allowing inequality constraints and the introduction of an endogenous mechanism of choice among alternative feasible solutions, the effects of sector capacity constraints and primary input availabilities may be investigated in the model.

Keywords: Capital Stock; Foreign Currency; Shadow Price; World Market Price; Factor Supply (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:lnechp:978-3-642-34994-2_3

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DOI: 10.1007/978-3-642-34994-2_3

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