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What is A Note On The Three Sector Cobb Douglas GDP Function about?
This document presents a three-sector Cobb-Douglas GDP function that incorporates agriculture, manufacturing, and services, utilizing three production factors: capital, labor, and land. It numerically derives the Stolper-Samuelson theorem, demonstrating how changes in relative prices of agricultural and service goods impact real interest rates, wages, and land rents. The model aims to enhance empirical studies on structural change by accounting for varying factor intensities across sectors.
- Author
- vishal.navis
- Language
- EN