Garegnani on a way to avoid the value capital endowment in Wicksell (1898)

Pierangelo Garegnani has argued that the value capital endowment could have been avoided in Knut Wicksell’s long-period general equilibrium in Value Capital and Rent (1898); the capital endowment might have been specified as an amount of labour embodied in the economy’s stock of capital goods, which would have avoided the vicious circle of a factor endowment dependent on what the equilibrium must determine. The paper argues that this thesis cannot be accepted.

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Year of publication:	2015-03
Authors:	Petri, Fabio
Institutions:	Dipartimento di Economia Politica e Statistics, Facoltà di Economia "Richard M. Goodwin"

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Extent:	application/pdf
Series:	Department of Economics University of Siena.
Type of publication:	Book / Working Paper
Classification:	B13 - Neoclassical through 1925 ; D50 - General Equilibrium and Disequilibrium. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011201320