Normal Values and Average Values

Man Seop Park

doi:10.1111/1467-999X.00027

Normal Values and Average Values

Man Seop Park

Research output: Contribution to journal › Article › peer-review

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 language	English
Pages (from-to)	188-199
Number of pages	12
Journal	Metroeconomica
Volume	48
Issue number	2
DOIs	https://doi.org/10.1111/1467-999X.00027
Publication status	Published - 1997 Jan 1
Externally published	Yes

ASJC Scopus subject areas

Economics and Econometrics

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Normal Values and Average Values

Abstract

ASJC Scopus subject areas

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