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NEOCLASSICAL AND KEYNESIAN PERSPECTIVES ON THE REGIONAL MACRO-ECONOMY: A COMPUTABLE GENERAL EQUILIBRIUM APPROACH (1989)

Harrigan, Frank ; McGregor, Peter G.

Oxford, UK : Blackwell Publishing Ltd

Journal of regional science 29 (1989), S. 0

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ISSN: 1467-9787

Source: Blackwell Publishing Journal Backfiles 1879-2005

Topics: Geography , Economics

Notes: Regional economic models typically either ignore prices altogether or simply treat them as exogenously determined. An unfortunate consequence of the neglect of prices is that model builders have been very much limited in the range of macroeconomic perspectives they have been able to bring to bear on regional economic issues. In this paper, we first explain how prices can be modeled endogenously at a regional level despite the paucity of data on regional prices. Using an illustrative interregional computable general equilibrium model for Malaysia, we then demonstrate how alternative macroeconomic visions of regional systems may be captured.

Type of Medium: Electronic Resource

URL: http://dx.doi.org/10.1111/j.1467-9787.1989.tb01244.x

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