IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-01385818.html
   My bibliography  Save this paper

Reproduction and temporary disequilibrium: a Classical approach

Author

Listed:
  • Carlo Benetti

    (EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)

  • Christian Bidard

    (EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)

  • Edith Klimovsky
  • Antoine Rebeyrol

    (EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)

Abstract

We build a bisector reproduction model with classical features in which the capitalists aim at maximizing accumulation of their profits. At variance with gravitation models, it is assumed that they invest their profits in their own industry. Their plans are based on actual productions and expected prices. Effective prices and effective allocations of resources are determined by a market-clearing mechanism. A simple law on the formation of expectations allows us to define the dynamics of disequilibria, which let appear endogenous self-sustained fluctuations, around a long-run path. The long-run rate of growth and the amplitude of the fluctuations depend on the initial conditions.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Carlo Benetti & Christian Bidard & Edith Klimovsky & Antoine Rebeyrol, 2012. "Reproduction and temporary disequilibrium: a Classical approach," Post-Print hal-01385818, HAL.
  • Handle: RePEc:hal:journl:hal-01385818
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Giancarlo De Vivo, 1986. "Torrens On Value And Distribution," Contributions to Political Economy, Cambridge Political Economy Society, vol. 5(1), pages 23-36.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Stefania Tescari & Andrea Vaona, 2014. "Regulating Rates of Return Do Gravitate in US Manufacturing!," Metroeconomica, Wiley Blackwell, vol. 65(3), pages 377-396, July.
    2. Li, Wu, 2015. "The Exchange Function and A Dynamic Exchange Model," MPRA Paper 68529, University Library of Munich, Germany.
    3. Carlo Benetti & Christian Bidard & Edith Klimovsky & Antoine Rebeyrol, 2014. "Disequilibrium, Reproduction and Money: a Classical Approach," Metroeconomica, Wiley Blackwell, vol. 65(3), pages 524-540, July.
    4. Rog?rio Arthmar & Taro Hisamatsu, 2021. "Robert Torrens on Say?s Law and the General Glut," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 10(1), pages 83-105.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Carlo Benetti & Christian Bidard & Edith Klimovsky & Antoine Rebeyrol, 2010. "Reproduction and temporary disequilibrium: a Classical approach," Working Papers hal-04140904, HAL.

    More about this item

    JEL classification:

    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-01385818. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.