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 language | English |
|---|---|
| Pages (from-to) | 188-199 |
| Number of pages | 12 |
| Journal | Metroeconomica |
| Volume | 48 |
| Issue number | 2 |
| DOIs | |
| Publication status | Published - 1997 Jan 1 |
| Externally published | Yes |
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ASJC Scopus subject areas
- Economics and Econometrics
Cite this
Normal Values and Average Values. / Park, Man Seop.
In: Metroeconomica, Vol. 48, No. 2, 01.01.1997, p. 188-199.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Normal Values and Average Values
AU - Park, Man Seop
PY - 1997/1/1
Y1 - 1997/1/1
N2 - 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.
AB - 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.
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U2 - 10.1111/1467-999X.00027
DO - 10.1111/1467-999X.00027
M3 - Article
VL - 48
SP - 188
EP - 199
JO - Metroeconomica
JF - Metroeconomica
SN - 0026-1386
IS - 2
ER -