dc.contributor.advisor | Dagsvik, John K. | |
dc.contributor.author | Andreassen, Leif | |
dc.coverage.spatial | Norway | nb_NO |
dc.date.accessioned | 2019-11-15T09:34:53Z | |
dc.date.available | 2019-11-15T09:34:53Z | |
dc.date.issued | 1995-02 | |
dc.identifier.issn | 0809-733X | |
dc.identifier.uri | http://hdl.handle.net/11250/2628692 | |
dc.description.abstract | This paper presents a framework for estimating non-Walrasian models with many markets based on the virtual price approach in Lee (1986). The paper discusses an open economy multi-market non-Walrasian model with many agents and government production. The modeling of the labor market is built on the assumption that each combination of worker and firm is a separate micro labor market The econometric specification in the paper assumes log-linear virtual prices. Despite the use of such a simple specification it is apparent that when there are a large number of markets, the computational burden of estimation becomes heavy due to the large number of possible rationing regimes. The model presented in the paper can be viewed as a basis for either doing econometric work within a multi-market representative agent framework or for developing methods for aggregating across micro markets. | nb_NO |
dc.description.sponsorship | Norwegian Research Council | nb_NO |
dc.language.iso | eng | nb_NO |
dc.publisher | Statistisk sentralbyrå | nb_NO |
dc.relation.ispartofseries | Discussion papers;138 | |
dc.subject | JEL classification: C5 | nb_NO |
dc.subject | JEL classification: D5 | nb_NO |
dc.title | A framework for estimating disequilibrium models with many markets | nb_NO |
dc.type | Working paper | nb_NO |
dc.description.version | publishedVersion | nb_NO |
dc.subject.nsi | VDP::Matematikk og Naturvitenskap: 400::Matematikk: 410::Statistikk: 412 | nb_NO |
dc.source.pagenumber | 80 | nb_NO |