Titlebook: Macro-Economic Theory: A Mathematical Treatment; R. G. D. Allen Book 1967 Palgrave Macmillan, a division of Macmillan Publishers Limited 1

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Capital Accumulation that the period is so short that changes in the stock of capital resulting from investment can be ignored. The level of income in static equilibrium may also be interpreted as a stationary state, implying no induced investment (depending on income or income changes) and an optimal capital stock.

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橡子

Technical Progressss. But technical progress is an important and perhaps the main factor making for growth. Technical progress simply implies that increased output can be obtained over time from given resources of men and machines. But it can take a variety of forms and our purpose now is to define and distinguish some of the simpler varieties.

聾子

Kaldor (Keynesian) Modelsution of income between profits (.) and wages (.), and on the proportions of saving out of profits (.) and out of wages (.). A special but particularly convenient case is that of the classical saving function where all saving is out of profits and . = ..

過去分詞

Multiplier-Accelerator Models. Population growth and technical progress do not arise. On the other hand, it is just these factors that characterise long-period equilibrium, but the treatment we have given is very narrowly based. It is confined to growth in real terms and it simply discards much of the apparatus of the Keynesian system.

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