Harrigan, James; Balaban, Rita A. - Federal Reserve Bank of New York - 1999
competitive general equilibrium where goods prices, technology and factor supplies jointly determine outputs and factor prices. We …, prices, and factor supplies. The model is based on the neoclassical theory of production, and is implemented by assuming that … GDP is a function of prices, technology levels, and supplies of capital and different types of labor. We treat final goods …
