Real Wicksell effect, demand for capital and stability
AbstractThe aim of this paper is to study the relationship between reverse capital deepening and instability of the equilibrium between investments and savings. It is shown for a model with n commodities, infinitely many linear technique of production, and overlapping generation that a badly-behaved real Wicksell effect, as in the case of a “reswitching of techniques”, can involve instability.
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Bibliographic InfoPaper provided by Department of Economics - University Roma Tre in its series Departmental Working Papers of Economics - University 'Roma Tre' with number 0162.
Date of creation: Sep 2012
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More information through EDIRC
investments; savings; interest rate; equilibrium stability; reswitching;
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