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Reswitching And Decreasing Demand For Capital

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  • Fratini, Saverio M.

Abstract

We consider a model of production with a continuum of linear techniques and examine the related choice of technique and shape of the demand for capital schedule. The primary conclusion regards the possibility of a decreasing demand for capital schedule combined with reswitching and reverse capital deepening.

Suggested Citation

  • Fratini, Saverio M., 2009. "Reswitching And Decreasing Demand For Capital," MPRA Paper 13389, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:13389
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    References listed on IDEAS

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    1. T. W. Swan, 1956. "ECONOMIC GROWTH and CAPITAL ACCUMULATION," The Economic Record, The Economic Society of Australia, vol. 32(2), pages 334-361, November.
    2. Burmeister,Edwin, 1980. "Capital Theory and Dynamics," Cambridge Books, Cambridge University Press, number 9780521297035.
    3. Ian Steedman, 2009. "Many Capital–Output Ratios Increasing With The Interest Rate: An Industry‐Level Analysis," Metroeconomica, Wiley Blackwell, vol. 60(1), pages 150-161, February.
    4. A. Bhaduri, 1966. "The Concept Of The Marginalproductivity Of Capital And Thewicksell Effect," Oxford Economic Papers, Oxford University Press, vol. 18(3), pages 284-288.
    5. Michael Bruno & Edwin Burmeister & Eytan Sheshinski, 1966. "The Nature and Implications of the Reswitching of Techniques," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 80(4), pages 526-553.
    6. Kurz,Heinz D. & Salvadori,Neri, 1997. "Theory of Production," Cambridge Books, Cambridge University Press, number 9780521588676.
    7. P. Garegnani, 1970. "Heterogeneous Capital, the Production Function and the Theory of Distribution," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 37(3), pages 407-436.
    8. 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.
    9. Swan, Trevor W, 2002. "Economic Growth," The Economic Record, The Economic Society of Australia, vol. 78(243), pages 375-380, December.
    10. Tatsuo Hatta, 1976. "The Paradox in Capital Theory and Complementarity of Inputs," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 43(1), pages 127-142.
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    Cited by:

    1. Saverio M. Fratini, 2014. "The Hicks-Malinvaud average period of production and 'marginal productivity': A critical assessment," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 21(1), pages 142-157, February.
    2. Stefano Di Bucchianico, 2019. "A critical analysis of the secular stagnation theory," Departmental Working Papers of Economics - University 'Roma Tre' 0245, Department of Economics - University Roma Tre.
    3. Saverio M. Fratini, 2013. "Malinvaud on Wicksell’s Legacy to Capital Theory: Some Critical Remarks," Palgrave Macmillan Books, in: Enrico Sergio Levrero & Antonella Palumbo & Antonella Stirati (ed.), Sraffa and the Reconstruction of Economic Theory: Volume One, chapter 5, pages 105-128, Palgrave Macmillan.
    4. Dvoskin, Ariel & Fratini, Saverio M., 2015. "On the Samuelson-Etula Master Function and Marginal Productivity: some old and new critical remarks," MPRA Paper 63415, University Library of Munich, Germany.

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    More about this item

    Keywords

    Capital Theory; Linear Activities of Production; Theory of Value;
    All these keywords.

    JEL classification:

    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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