Arbeitspapier
Sraffian indeterminacy in general equilibrium revisited
In contrast to Mandler's (1999a; Theorem 6) impossibility result about the Sraffian indeterminacy of the steady-state equilibrium, we first show that any regular Sraffian steady-state equilibrium is indeterminate in terms of Sraffa (1960) under the simple overlapping generation economy. Moreover, we also check that this indeterminacy is generic. These results are obtained by explicitly defining a simple model of overlapping generation economies with Leontief production techniques, in which we also explain the main source of the difference between our results and Mandler (1999a; section 6).
- Language
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Englisch
- Bibliographic citation
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Series: Working Paper ; No. 2019-04
- Classification
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Wirtschaft
Current Heterodox Approaches: Socialist; Marxian; Sraffian
Factor Income Distribution
General Equilibrium and Disequilibrium: General
- Subject
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Sraffian indeterminacy
- Event
-
Geistige Schöpfung
- (who)
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Yoshihara, Naoki
Kwak, Se Ho
- Event
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Veröffentlichung
- (who)
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University of Massachusetts, Department of Economics
- (where)
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Amherst, MA
- (when)
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2019
- Handle
- Last update
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10.03.2025, 11:41 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Yoshihara, Naoki
- Kwak, Se Ho
- University of Massachusetts, Department of Economics
Time of origin
- 2019
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