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-run equilibrium values of capacity utilisation, capital accumulation and the rate of profit are derived, and the long run effects on … the equilibrium debt-capital-ratio are also analysed. It is shown, that the effects of interest variations on the … interest rate and the debt- capital-ratio. If the conditions for short-run ‘normal’ effects of interest rate variations are …
Persistent link: https://www.econbiz.de/10005126210
debt services have on short and long run capital accumulation. This attempt, however, can be extended because neither has … rate and the debt-capital-ratio. …
Persistent link: https://www.econbiz.de/10005412605
The emphasis of capital theory in recent decades has moved away from the implications of useful life as an important … invariant with respect to the type of capital policy being applied, whereas at the macroeconomic level it is shown that we … cannot obtain consistent aggregates of capital stock and replacement investment. …
Persistent link: https://www.econbiz.de/10005126207
Data on physical capital are an indispensable part of economic growth and efficiency studies. In the case of China …, economy-wide fixed asset series are usually derived by aggregating gross fixed capital formation (net of depreciation) over … procedures, to varying degrees, ignore that (i) gross fixed capital formation does not equal investment, (ii) investment does not …
Persistent link: https://www.econbiz.de/10005412585
We address the finance motive and the determination of profits in the Monetary Theory of Production associated with the Circuitist School. We show that the “profit paradox” puzzle addressed by many authors who adopt this approach can be solved by integrating a simple Circuit model with a...
Persistent link: https://www.econbiz.de/10005076750
. Capitalists’ saving originates only from capital income. The model is two-dimensional involving distributive processes that occur …
Persistent link: https://www.econbiz.de/10005125028
We examine how much of the observed wage dispersion among similar workers can be explained as a consequence of a lack of coordination among employers. To do this, we construct a directed search model with homogenous workers but where firms can create either good or bad jobs, aimed at either...
Persistent link: https://www.econbiz.de/10005126186
Comparing a process of labor- and capital-augmenting technical change directed by capitalists' maximization of profits … that if the two economies start from the same technology and capital stock there's a date T such that after T per …
Persistent link: https://www.econbiz.de/10005126203
The hypothesis that the behavior of firms in adjusting the number of their employees along a business cycle depends on the size of the firms has often been mentioned in the literature. Several authors argue that small and medium sized enterprises are more hesitant in hiring additional employees...
Persistent link: https://www.econbiz.de/10005135008
The hypothesis that the behavior of firms in adjusting the number of their employees along a business cycle depends on the size of the firms has often been mentioned in the literature. Several authors argue that small and medium sized enterprises are more hesitant in hiring additional employees...
Persistent link: https://www.econbiz.de/10005412871