The Adjustment of Product and Factor Markets: An Application to the Pacific Northwest Forest Products Industry
作者:
David E. Merrifield,
Richard W. Haynes,
期刊:
American Journal of Agricultural Economics
(WILEY Available online 1984)
卷期:
Volume 66,
issue 1
页码: 79-87
ISSN:0002-9092
年代: 1984
DOI:10.2307/1240618
出版商: Oxford University Press
数据来源: WILEY
摘要:
AbstractAn equilibrium model of output and factor markets is used to calculate comparative static effects of demand and factor supply shifts on output and factor prices and employment in the Pacific Northwest forest products industry. The technological link between output and factor levels is provided through a three‐input production function. Results over the 1950–76 sample period suggest that changes in product‐to‐factor price ratios and factor employment are a consequence of differing factor supply elasticities and that factor supply shifts have limited effect on output price and employment levels because of substitution possibilities occurring in the production process and marketplace.
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