Reswitching And Decreasing Demand For Capital
We consider a Wicksellian or Neo-Austrian model of production with a continuum of techniques. For this model we provide an example in which a monotonically decreasing demand for capital schedule is combined with reswitching and a net product per worker that increases (over a certain interval) as the interest rate increases. Copyright � 2010 The Author. Journal compilation � 2010 Blackwell Publishing Ltd.
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Volume (Year): 61 (2010)
Issue (Month): 4 (November)
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References listed on IDEAS
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- T. W. Swan, 1956. "ECONOMIC GROWTH and CAPITAL ACCUMULATION," The Economic Record, The Economic Society of Australia, vol. 32(2), pages 334-361, November.
- Garegnani, P, 1970. "Heterogeneous Capital, the Production Function and the Theory of Distribution," Review of Economic Studies, Wiley Blackwell, vol. 37(3), pages 407-36, July.
- Swan, Trevor W, 2002. "Economic Growth," The Economic Record, The Economic Society of Australia, vol. 78(243), pages 375-80, December.
- Hatta, Tatsuo, 1976. "The Paradox in Capital Theory and Complementarity of Inputs," Review of Economic Studies, Wiley Blackwell, vol. 43(1), pages 127-42, February.
- Schefold, Bertram, 2008. "C.E.S. production functions in the light of the Cambridge critique," Journal of Macroeconomics, Elsevier, vol. 30(2), pages 783-797, June.
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