THE DIVISION OF LABOR AND ROUNDABOUT PRODUCTION: ALLYN YOUNG REVISITED

Autor:	Guang-Zhen Sun, Monchi Lio
Rok vydání:	2003
Předmět:	Transaction cost Economics and Econometrics education.field_of_study Labour economics Returns to scale General equilibrium theory Population Specialization (functional) Economics Production (economics) education Database transaction Division of labour
Zdroj:	Pacific Economic Review. 8:219-238
ISSN:	1468-0106 1361-374X
DOI:	10.1111/j.1468-0106.2003.00223.x
Popis:	This paper investigates Allyn Young's two important doctrines concerning the division of labor and roundabout production. First, apart from advancing the state of knowledge, the progressive division of labor that can occur within a given population encourages the adoption of more specialized, differentiated intermediate goods in the production process. Second, the level of division of labor and the extent of the market depend on each other. Using a general equilibrium model with increasing returns to specialization, economies of complementarity between intermediate goods, and transaction costs, we demonstrate that the level of division of labor and the number of intermediate goods increase concurrently as transaction conditions are improved.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::55f79a008282d36bfd31ca89b25be66c https://doi.org/10.1111/j.1468-0106.2003.00223.x Zobrazit plný text záznamu Plný text ve formátu PDF