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

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Deviation
Two-sector model
Productive capacity
Long period

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 journalArticle

Park, Man Seop. / Normal Values and Average Values. In: Metroeconomica. 1997 ; Vol. 48, No. 2. pp. 188-199.
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