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The Extended Three-Sector Model

  • Terry L. Roe
  • D. Şirin Saracoğlu
  • Rodney B.W. Smith
Chapter

Abstract

Chapter 5 pointed out the importance of extending the basic three-sector model to accommodate (i) intermediate inputs of production, (ii) a stock of capital defined as a composite of various sector outputs, and (iii) government consumption and revenues. This chapter takes up the task of combining these extensions into a single model – the outcome of which is a model more suited to a broad array of policy analyses. Combining each of these features into a single model, however, has the cost of introducing a number of complications that make presenting and specifying the model more challenging.

Keywords

Service Sector Capital Stock Industrial Sector Base Solution Intermediate Input 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag New York 2010

Authors and Affiliations

  • Terry L. Roe
    • 1
  • D. Şirin Saracoğlu
    • 2
  • Rodney B.W. Smith
    • 1
  1. 1.Department of Applied EconomicsUniversity of MinnesotaSt. PaulUSA
  2. 2.Department of EconomicsMiddle East Technical University (METU)AnkaraTurkey

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