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Now showing items 1-10 of 10

#### Maximin paths of heterogeneous capital accumulation and the instability of paradoxical steady states

(1977)

If there exist heterogeneous capital goods, a steady state may be "paradoxical" in
the sense that increasing the rate of interest above the Golden Rule level may lead
to an increase in consumption or utility, rather than ...

#### Capital deepening response in an economy with heterogeneous capital goods

(1972)

Capital deepening is an important con- cept in traditional capital theory. In a one-sector
model it has an unambiguous definition, describing an increase in the physical capital-labor
ratio...

#### Price expectations, disequilibrium adjustments, and macroeconomic price stability

(1978)

In two previous papers we have discussed the formulation of a logically consistent
adaptive-type price expectations mechanism in continuous time and have applied our
results to derive sufficient conditions for dynamic price ...

#### A Comment on" This Age of Leontief... and Who?"

(1975)

Levine claims that Sraffa has been misunder- stood on issues concerning, "(1) [the]
use of pro- duction coefficients and the question of returns to scale, (2) the centerpiece
of the price-deter- mining apparatus, (3) numeraire ...

#### The irrelevance of Sraffa's analysis without constant returns to scale

(1977)

One fundamental result in Sraffa's production of commodities by means by commodities
is the relationship between the rate of profit for a given production tecchnique and
Sraffa;s measure of the real wage.................

#### Perfect Foresight, Expectational Consistency, and Macroeconomic Equilibrium

(1977)

This paper begins by introducing three alternative properties of expectations: weak
consistency, strong consistency, perfect foresight. These concepts are then used to
consider the relationship between beginnning of period ...

#### Switching of Techniques and Consumption Per Head: An Economic Clarification

(1970)

Using the notation of our original paper,' we summarize differ- ent techniques by
(nXn) input matrices a, b, c, . . . and the cor- responding labor requirement vectors
ao, bo, ... When one sets the wage w=1 as a normalization, ...

#### On Some Unresolved Questions in Capital Theory: An Application of Samuelson's Correspondence Principle*

(1977)

In the mid-1960's two quite separate but fundamental questions in capital theory were
first debated in this Journal. On the one hand, the original paper by Levhari (1965)
gave rise to the widely cited series of papers published ...

#### Synthesizing the neo-Austrian and alternative approaches to capital theory: a survey

(1974)

CAPITAL theory involves many complex issues which have generated heated debates within
the profession,' and no one survey can treat the subject exhaustively. However, Capital
and time:A neo-Austrian theory [27, Hicks, 1973], ...