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Capital, Time and Transitional Dynamics

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analysis
Average Period
Calls Attention
Cambridge Capital Theory Controversies
Capital Good
Category=KCA
Category=KCB
Category=KCZ
complementarities
Consumption Goods
Dynamic Paths
economic structural change
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Factor Price Frontier
Full Employment Path
goods
growth equilibrium disruption
Heterogeneous Capital Goods
Hicks's Analysis
Hicks's Capital
Hicks’s Analysis
Hicks’s Capital
Interest Rate
Interest Rate R1
intertemporal
macroeconomic dynamics
neo-austrian
neo-Austrian Approach
neo-Austrian Model
neo-Austrian theory
non-steady state capital transitions
Optimal Duration
Organic Composition
Proportional Wages
rate
real
Real Wage Rate
Single Consumption Goods
Steady State Equilibrium
technical progress economics
theory
traverse
traverse analysis
Traverse Path
Von Neumann Model
wage

Product details

  • ISBN 9780415588638
  • Weight: 530g
  • Dimensions: 156 x 234mm
  • Publication Date: 15 Apr 2010
  • Publisher: Taylor & Francis Ltd
  • Publication City/Country: GB
  • Product Form: Paperback
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Description

In the words of Robert M. Solow traverse analysis "is the easiest part of skiing, but the hardest part of economics". The aim of this volume is to assess the state and scope of modern traverse analysis as it had been initiated by John Hicks in his pioneering contribution Capital and Time (1973). The analysis of an economy which originally had been in a growth equilibrium which was disturbed by technical progress is one of the most challenging problems in economics. This book takes Hicks’ work as the point of departure for theoretical work on the macroeconomic theory of capital dynamics along transition non-steady state paths

The original contributions in this volume explore the manifold theoretical roots of traverse analysis in classical and post-classical literature, its features as a specific method of economic dynamics, and its applications in a variety of fields from monetary economics to development and international economics. The essays thereby focus on the ways ahead from Capital and Time that have been suggested and actively pursued by a number of scholars in recent years. Its central theme is the role of capital structures as critical factors in determining the actual dynamics of any given economic system. This volume is inspired by the belief that this state of affairs is not a satisfactory one, and outlines a new agenda for capital theory. Contributors include Edwin Burmeister, Jean-Luc Gaffard and Heinz Kurz.
About

Harald Hagemann is Professor of Economic Theory at the University of Hohenheim. He is the co-editor of Growth Theory and Growth Policy (2003), also published by Routledge. Roberto Scazzieri is Professor of Economic Analysis at the University of Bologna