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Considers the solution of large systems of linear equations, such as those arising from a large linearized economic model. Recommends (a) that matrix inversion be avoided, in favour of LU methods; and (b) that sparsity in the system be exploited using special computer subroutines. Some examples...
Persistent link: https://www.econbiz.de/10010877238
Robert Hall (1986, 1988, and 1990) has emphasised the importance of imperfect competition and economies of scale in explaining procyclical movements in measured total factor productivity in US industries. In contrast to the labour hoarding hypothesis and real business cycle theorists, he cites...
Persistent link: https://www.econbiz.de/10004968021
Recently some researchers have suggested that economies of scale and imperfect competition play a major role in determining the effects of exogenous policy shocks. Thus they have emphasised the need to incorporate industrial organisation features into computable general equilibrium (CGE) models....
Persistent link: https://www.econbiz.de/10005031653
A small version of ORANI is constructed, incorporating economies of scale and imperfect competition. Economic mechanisms are borrowed from a model constructed by Richard Harris, and described in his 1984 book "Trade, Industrial Policy and Canadian Manufacturing". The miniature Harris-like model...
Persistent link: https://www.econbiz.de/10005032938