Distribution and Growth in an Economy with Heterogeneous Capital and Excess Capacity
AbstractIn a world of heterogeneous capital the aggregate capital-capacity ratio can change in a complicated way as the real wage rate changes and, therefore, nothing useful can be said, a priori, about the relationships between the real wage rate (or the aggregate profit share), the degree of capacity utilization and the rates of profit, capital accumulation and interest.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 24042.
Date of creation: Jan 2007
Date of revision:
Publication status: Published in Asian-African Journal of Economics and Econometrics 1-2.7(2007): pp. 365-375
Aggregate capital-capacity ratio; capacity utilization; heterogeneous capital; post-Keynesian theory; Sraffian theory;
Find related papers by JEL classification:
- E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
- D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis
- E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Institutional; Evolutionary
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