Productivity impacts of infrastructure investment in the Netherlands 1853-1913
The paper considers a (static) portfolio system that satisfies adding-up contraints and the gross substitution theorem. The paper shows the relationship of the two conditions to the weak dominant diagonal property of the matrix of interest rate elasticities. This enables to investigate the impact of simultaneous changes in interest rates on the asset demands.
Year of publication: |
1995
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Authors: | Sturm, Jan-Egbert ; Jacobs, Jan ; Groote, Peter |
Institutions: | Faculteit Economie en Bedrijfskunde, Rijksuniversiteit Groningen |
Saved in:
freely available
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