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Two-Sector Model of General Equilibrium

Harry G. Johnson
€102.99
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analytical techniques international trade theory
Author_Harry G. Johnson
Capital Labour Ratio
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Category=KCB
Commodity Price Ratio
Contract Curve
Effective Labour Force
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eq_business-finance-law
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eq_isMigrated=2
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Excess Demand
Excess Supply
Factor Price Ratio
Fixed Savings Ratio
geometrical general equilibrium analysis
global transport policy developed and developing world
growth convergence models
Harrod Neutral Technical Progress
Hicksian Elasticity
Higher Product Index
Income Distribution Curves
income distribution theory
international trade analysis
Investment Goods Production
Non-unionized Industry
Non-unionized Product
policy mechanisms
Production Transformation Curve
public goods equilibrium
redistributive taxation
regulation de-regulation
Relative Income Shares
Ricardian Model
Ricardian model distribution
Savings Ratio
Steady State Growth Equilibrium
Steady State Growth Path
steady-state growth income maximisation
theorry of public finance
Transformation Curve
transport and spatial distribution of development
transport substitutes
trends in international transport
Unique Stable Equilibrium
Vice Versa
wage policy economics

Product details

  • ISBN 9781032050034
  • Weight: 453g
  • Dimensions: 156 x 234mm
  • Publication Date: 30 Jul 2021
  • Publisher: Taylor & Francis Ltd
  • Publication City/Country: GB
  • Product Form: Hardback
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Description

Originally published in 1971, this book presents in a lucid form the basic model of distribution in a two-sector general equilibrium system. While this model has been used by many economists, this was the first synoptic exposition of it to become readily available to students. The first part develops the two-sector model and its properties, using the geometrical tools of international trade theory. The second applies the model to some standard problems in the theory of income distribution, including the economics of redistributive taxes and subsidies, of trade union organization, and of minimum wage laws. The third part converts the model into a growth model and develops the conditions for convergence on a steady-state growth path and for the maximization of consumption per head at all points of time.

About Harry G. Johnson
Harry G. Johnson was Professor of Economics at the University of Chicago.

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