Franke, Reiner - In: European Journal of Economics and Economic Policies: … 17 (2020) 1, pp. 61-77
This paper derives firms' desired rate of utilization from an explicit maximization of a conjectured rate of profit at … the micro level. Invoking a strategic complementarity, desired utilization is thus an increasing function of not only the … profit share but also the actual utilization. Drawing on recent empirical material and a straightforward functional …