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Expectations and adjustment dynamics in the specific-factors model: Correction and extension

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  • Albert, Max

Abstract

This paper corrects the analysis, presented in Albert and Meckl (1991), of adjustment in a dynamic specific-factors model with endogenous capital stocks, and extends it to a multi-sector setup.

Suggested Citation

  • Albert, Max, 1995. "Expectations and adjustment dynamics in the specific-factors model: Correction and extension," Discussion Papers, Series II 246, University of Konstanz, Collaborative Research Centre (SFB) 178 "Internationalization of the Economy".
    • Handle: RePEc:zbw:kondp2:246
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    References listed on IDEAS

    as
    1. Mussa, Michael, 1978. "Dynamic Adjustment in the Heckscher-Ohlin-Samuelson Model," Journal of Political Economy, University of Chicago Press, vol. 86(5), pages 775-791, October.
    2. Albert, Max & Meckl, Jürgen, 1991. "Expectations and adjustment dynamics in a two-sector model of a small open economy," Discussion Papers, Series II 132, University of Konstanz, Collaborative Research Centre (SFB) 178 "Internationalization of the Economy".
    3. Albert, Max, 1989. "Capital mobility and costs of adjustment," Discussion Papers, Series II 96, University of Konstanz, Collaborative Research Centre (SFB) 178 "Internationalization of the Economy".
    4. A. B. Treadway, 1969. "On Rational Entrepreneurial Behaviour and the Demand for Investment," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 36(2), pages 227-239.
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