A dynamic method of inter-sectoral economic analysis
Trimestre econ, Mexico 34(2): 134; 287-96
The performance of the Venezuelan economy is examined for 1964, using the following production function: Pt=bLt-kLj-t in which P=GNP, b=an undetermined coefficient, L=labour inputs in man/hr., C=capital inputs, and j and k are the relevant supply elasticities of the factors. The aim is to consider Delta P/P as a result of changes in b, L, and C, i.e. to impute the growth rate to its causes. The final equation presented is: Delta P/P= Delta b/b + k Delta L/L=j Delta.