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Sources of gains in allocative efficiency (anglais)

This paper formulates a framework for analyzing the gains in allocative efficiency through the convergence of factor returns. Sources of convergence may include: a) factor reallocations, b) differential rates of productivity growth; c) changes in production technologies; d) changes in inter-sectoral prices, both product prices and factor input prices. Significant differences among factor returns may arise due to: 1) shocks that create temporary disequilibria...
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