Distribution and Growth in an Economy with Heterogeneous Capital and Excess Capacity
In 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.
|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|
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