A DYNAMIC INTRSECTORAL,MODEL OF REGIONAL ECONOMIC GROWTH*

ABSTRACT. The dynamic relationship between sectoral value added and regional economic growth is analyzed using a stochastic intersectoral model estimated by ordinary least squares and linear systems techniques. A state-space portion of the model identifies the time element of sedoral value added. Dynamic multipliers, tracing the temporal path of regional growth, are calculated for the state of Georgia over the period 1963–1986. This application shows that the impacts of sectoral shocks can follow cyclical as well as monotonic patterns and that the direction and magnitude of the impact may change over time.     

SPATIAL EQUILIBRIUM WITH FOOTLOOSE FIRMS*

ABSTRACT. We determine the location equilibria in a duopoly model under a novel solution concept. Typically, spatial equilibrium is described as either a simultaneous price and location game, or else as a two-stage location-then-price game. We introduce a new alternative, a two-stage price-then-location game. It is well known that no (pure strategy) equilibrium usually exists under the two standard solution concepts when products are homogeneous. We show this is also true for the new concept. We then provide numerical results for a specific functional form (the logit model) which introduces product heterogeneity into the standard framework, restoring equilibrium when the degree of substitutability between products is not too small.     

ROCK PHYSICS AND THE NEOLITHIC AXE TRADE IN GREAT BRITAIN*

This paper is concerned with the products of a number of Neolithic quarries in highland Britain. It investigates the claim that the scale of axe distribution was partly the result of social factors which resulted in these artefacts gaining an added value in areas remote from their sources. One case study considers the sequence of production in Cumbria, in relation to the tensile strength of the rock quarried in different parts of the region. It shows that these considerations had only a limited influence over the choice of stone source and the scale on which it was worked. A second study compares the tensile strength of the main raw materials used for making non-flint axes with the extent to which these sources were actually exploited. Again there is only a limited relationship between the two, suggesting that social factors may indeed have been important.