Essays on sectoral adjustment in an open economy

This study examines sectoral effects of different exogenous changes, and dynamics of sectoral adjustment. The study contains five theoretical essays in which we make various assumptions about production structure, wage determination and labor mobility. We present in a new way elasticities of factor...

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Main Author: Ylönen, Sakari
Format: Doctoral dissertation
Language:eng
Published: 1989
Subjects:
Online Access: https://jyx.jyu.fi/handle/123456789/103889
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author Ylönen, Sakari
author_facet Ylönen, Sakari Ylönen, Sakari
author_sort Ylönen, Sakari
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description This study examines sectoral effects of different exogenous changes, and dynamics of sectoral adjustment. The study contains five theoretical essays in which we make various assumptions about production structure, wage determination and labor mobility. We present in a new way elasticities of factor demands and substitution under decreasing returns to scale. These results are used when we interpret sectoral effects of an increase in labor endowment. Furthermore, these results are exploited when we study effects of increased output or price of an intermediate good on traded and non-traded final good sectors under rigid nominal and real wages. A model of three stage production structure and short-run labor immobility is constructed, and spending, wealth and labor movement effects are distinguished. Dynamics of sectoral adjustment is studied when intersectoral mobility of labor force is not perfect and the booming sector is a wage leader which is followed by the contracting sector. Characteristics of adjustment paths are shown to unveil under certain conditions under- and overshooting of sectoral employments and outputs.
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The study contains five theoretical essays in which we make various assumptions about production structure, wage determination and labor mobility. We present in a new way elasticities of factor demands and substitution under decreasing returns to scale. These results are used when we interpret sectoral effects of an increase in labor endowment. Furthermore, these results are exploited when we study effects of increased output or price of an intermediate good on traded and non-traded final good sectors under rigid nominal and real wages. A model of three stage production structure and short-run labor immobility is constructed, and spending, wealth and labor movement effects are distinguished. Dynamics of sectoral adjustment is studied when intersectoral mobility of labor force is not perfect and the booming sector is a wage leader which is followed by the contracting sector. 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spellingShingle Ylönen, Sakari Essays on sectoral adjustment in an open economy tuotantorakenne taloudelliset mallit avoin talousjärjestelmä palkat työvoiman liikkuvuus talouselämä tuotanto
title Essays on sectoral adjustment in an open economy
title_full Essays on sectoral adjustment in an open economy
title_fullStr Essays on sectoral adjustment in an open economy Essays on sectoral adjustment in an open economy
title_full_unstemmed Essays on sectoral adjustment in an open economy Essays on sectoral adjustment in an open economy
title_short Essays on sectoral adjustment in an open economy
title_sort essays on sectoral adjustment in an open economy
title_txtP Essays on sectoral adjustment in an open economy
topic tuotantorakenne taloudelliset mallit avoin talousjärjestelmä palkat työvoiman liikkuvuus talouselämä tuotanto
topic_facet avoin talousjärjestelmä palkat taloudelliset mallit talouselämä tuotanto tuotantorakenne työvoiman liikkuvuus
url https://jyx.jyu.fi/handle/123456789/103889 http://www.urn.fi/URN:ISBN:978-952-86-0851-6
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