On shadow pricing / Edward Tower, Garry Pursell.

Author
Tower, Edward [Browse]
Format
Book
Language
English
Published/​Created
Washington, D.C., U.S.A. : World Bank, ©1986.
Description
131 p. : ill. ; 28 cm.

Details

Subject(s)
Series
Summary note
The principal purpose of the monograph is to use general equilibrium methodology to explain the logical foundations of shadow prices and the techniques for deriving shadow price expressions. We first discuss the nature and meaning of shadow prices. Then we build a simple model in which each traded good is produced with intermediate inputs and a value added aggregate which are used in fixed proportions and with constant returns to scale, where the value added aggregate is a variable proportions function of a sector specirfic fixed factor and an intersectorally mobile factor of production which is common to all sectors. Using this model we first derive shadow prices for labor, traded goods, non-traded goods and foreign exchange assuming full employment and a flexible real exchange rate, with household welfare being held constant by adjustments in income taxes.
Bibliographic references
Bibliography: p. 128-131.
ISBN
  • 0821306952 ((pbk.))
  • 9780821306956 ((pbk.))
Tech. report no.
UN9 IB25 86W792
LCCN
85029595
OCLC
13010129
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