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The Ricardian Dynamics Revisited


  • Christian Bidard


The Ricardian dynamics describe the substitution of a new marginal method for an outgoing marginal method when demand increases. The process of extension or intensi cation of cultivation allows for spasmodic changes in prices and rents but is smooth on the physical side. We criticize the notion of extension of cultivation and show the existence of non-Ricardian equilibria, when some good is not produced by a marginal method. The working of the dynamics requires that the incoming method satisfies a productivity condition which is expressed in algebraic terms. A parallel is drawn between Ricardo's views on dynamics and the working of a Lemke algorithm for linear complementarity problems.

Suggested Citation

  • Christian Bidard, 2011. "The Ricardian Dynamics Revisited," EconomiX Working Papers 2011-24, University of Paris Nanterre, EconomiX.
  • Handle: RePEc:drm:wpaper:2011-24

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    References listed on IDEAS

    1. Arouri, Mohamed El Hédi & Lahiani, Amine & Lévy, Aldo & Nguyen, Duc Khuong, 2012. "Forecasting the conditional volatility of oil spot and futures prices with structural breaks and long memory models," Energy Economics, Elsevier, vol. 34(1), pages 283-293.
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    Cited by:

    1. Christian Bidard, 2014. "The Wage Curve in Austrian Models," EconomiX Working Papers 2014-54, University of Paris Nanterre, EconomiX.
    2. Bidard, Christian, 2014. "The Ricardian rent theory: an overview," Centro Sraffa Working Papers CSWP8, Centro di Ricerche e Documentazione "Piero Sraffa".
    3. Christian Bidard, 2014. "The Ricardian rent theory two centuries after," EconomiX Working Papers 2014-54, University of Paris Nanterre, EconomiX.

    More about this item


    Dynamics; Lemke; Linear Complementarity Problem; Rent; Ricardo;

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution

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