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Real Wicksell effect, demand for capital and stability

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  • Saverio M. Fratini

Abstract

The 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.

Suggested Citation

  • Saverio M. Fratini, 2012. "Real Wicksell effect, demand for capital and stability," Departmental Working Papers of Economics - University 'Roma Tre' 0162, Department of Economics - University Roma Tre.
  • Handle: RePEc:rtr:wpaper:0162
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    File URL: http://dipeco.uniroma3.it/public/WP%20162%20Fratini%202012.pdf
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    Cited by:

    1. Saverio M. Fratini, 2015. "A Note on Reswitching and Intertemporal Prices," Review of Political Economy, Taylor & Francis Journals, vol. 27(4), pages 666-678, October.
    2. repec:bla:metroe:v:68:y:2017:i:4:p:586-624 is not listed on IDEAS
    3. repec:bla:metroe:v:68:y:2017:i:4:p:625-659 is not listed on IDEAS
    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.
    5. Fratini, Saverio M., 2017. "Neoclassical theories of stationary relative prices and the supply of capital," MPRA Paper 76343, University Library of Munich, Germany.
    6. Fratini, Saverio M., 2018. "On the Second Stage of the Cambridge Capital Controversy," Centro Sraffa Working Papers CSWP30, Centro di Ricerche e Documentazione "Piero Sraffa".

    More about this item

    Keywords

    investments; savings; interest rate; equilibrium stability; reswitching;

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General

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