Dynamic Inefficiency in an Economy with Land
AbstractContrary to the belief that capital overaccumulation is impossible in an economy with land--i.e., a nonreproducible factor of production--this paper shows that the possibility of dynamic inefficiency depends on the income share of land and examines the historical tendencies of the income share of land in the United States. Copyright 1991 by The Review of Economic Studies Limited.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Review of Economic Studies.
Volume (Year): 58 (1991)
Issue (Month): 4 (July)
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