Temporal convergence and factor intensities

In the two-sector neoclassical production model with no factor-market distortions, the value and physical factor-intensity rankings of the two sectors may differ when the economy is out of long-run equilibrium, but such a difference does not imply any failure of convergence to long-run equilibrium.

Bibliografske podrobnosti
Main Authors: Jones, R, Neary, J
Format: Journal article
Jezik:English
Izdano: North-Holland Publishing Company 1979
Teme: