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The equilibrium analyses under the classical growth framework mainly concern production processes so far and the … etc. with a utility parameter, this paper presents equilibrium formulas taking account of the utility-maximization of … consumers, which may facilitate the analysis of dynamic general equilibrium involving both profit-maximizing firms and utility …
Persistent link: https://www.econbiz.de/10008683318
equilibrium paths of the growth model are proved to be balanced growth paths sharing a unique normalized price vector. Though this …
Persistent link: https://www.econbiz.de/10005789641
This paper resumes a source of instability of intertemporal equilibrium which was anticipated by Garegnani (2003) and … equilibria. This result seems to be a challenge for the stability of general equilibrium also in the context of more realistic …
Persistent link: https://www.econbiz.de/10009649987
intertemporal general equilibrium theory too is undermined by reswitching and reverse capital deepening. The paper argues that … Mandler’s conclusion rests upon highly criticisable assumptions that render the equations of intertemporal general equilibrium … guarantees uniqueness of intertemporal equilibrium independently of reswitching or reverse capital deepening, rests on the …
Persistent link: https://www.econbiz.de/10008528592
The paper seeks to integrate the theoretical developments in the field of imperfect competition and monopoly, and operation of the firm in such conditions, with the theories of income distribution, particularly among the macroeconomic aggregates of capital and labor. And formulating a working...
Persistent link: https://www.econbiz.de/10011114400
The present paper on the now partly well known Russian mathematician and amateur economist v. Charasoff was originally written in 1987 together with H. Duffner three years after Charasoff's remarkable contribution of 1910 Das System des Marxismus (The system of Marxism) had been rediscovered by...
Persistent link: https://www.econbiz.de/10010333506
This article using the principal components analysis identifies key industries and groups them into particular clusters. The data come from the US benchmark input-output tables of the years 2002, 2007, 2012 and the most recently published input-output table of the year 2019. We observe some...
Persistent link: https://www.econbiz.de/10013288360
This paper provides an empirical analysis of Marx's theory of exploitation built on the standard interpretation of the value of labour power. The relationship between the aggregate value rate of profit and the aggregate price rate of profit is studied and it is shown that the two rates coincide...
Persistent link: https://www.econbiz.de/10014363185
neoclassical theory, many other questions, such as the treatment of capital in temporary or intertemporal general equilibrium …
Persistent link: https://www.econbiz.de/10014363384
determined by the marginal productivity of capital and that the equality between the two in equilibrium must not be …
Persistent link: https://www.econbiz.de/10014363387