Normal Values and Average Values

Research output: Contribution to journalArticle

8 Citations (Scopus)

Abstract

This essay discusses the implications of the idea that the Keynesian premise implies deviations between the normal and the average degrees of utilization. A system of equations called the “average system” is proposed for the study of average values, as distinct from normal values, by way of a hypothetical steady- state growth path for each sector. A long-period implication of the short-period under-utilization of productive capacity is presented in terms of a two-sector model. Blackwell Publishers Ltd, 1997.

Original languageEnglish
Pages (from-to)188-199
Number of pages12
JournalMetroeconomica
Volume48
Issue number2
DOIs
Publication statusPublished - 1997 Jan 1
Externally publishedYes

ASJC Scopus subject areas

  • Economics and Econometrics

Fingerprint Dive into the research topics of 'Normal Values and Average Values'. Together they form a unique fingerprint.

  • Cite this