Heterodox
Summary:
I have a new working paper. Abstract: Does the Cambridge equation, in which the rate of profits in a steady state is equal to the quotient of the rate of growth and the savings rate out of profits, hold in an economy with widespread non-competitive markets? This article presents a multiple-good model of markup pricing in an attempt to answer this question. A balance equation is derived. Given competitive conditions, this model can be used to derive the Cambridge equation. The Cambridge equation also holds in a special case of markup pricing, with one capital good and many consumption goods being produced. No definite conclusions are reached in the general case.
Topics:
Robert Vienneau considers the following as important: Example in Mathematical Economics, Full Cost Prices, Steady State Economics
This could be interesting, too:
I have a new working paper. Abstract: Does the Cambridge equation, in which the rate of profits in a steady state is equal to the quotient of the rate of growth and the savings rate out of profits, hold in an economy with widespread non-competitive markets? This article presents a multiple-good model of markup pricing in an attempt to answer this question. A balance equation is derived. Given competitive conditions, this model can be used to derive the Cambridge equation. The Cambridge equation also holds in a special case of markup pricing, with one capital good and many consumption goods being produced. No definite conclusions are reached in the general case.
Topics:
Robert Vienneau considers the following as important: Example in Mathematical Economics, Full Cost Prices, Steady State Economics
This could be interesting, too:
Robert Vienneau writes Austrian Capital Theory And Triple-Switching In The Corn-Tractor Model
Robert Vienneau writes Double Fluke Cases For Triple-Switching In The Corn-Tractor Model
Robert Vienneau writes The Emergence of Triple Switching and the Rarity of Reswitching Explained
Robert Vienneau writes Recap For A Triple -Switching Example
I have a new working paper.
Abstract: Does the Cambridge equation, in which the rate of profits in a steady state is equal to the quotient of the rate of growth and the savings rate out of profits, hold in an economy with widespread non-competitive markets? This article presents a multiple-good model of markup pricing in an attempt to answer this question. A balance equation is derived. Given competitive conditions, this model can be used to derive the Cambridge equation. The Cambridge equation also holds in a special case of markup pricing, with one capital good and many consumption goods being produced. No definite conclusions are reached in the general case.