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Production Prices and Dynamic Stability: Results and Open Questions

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  • Boggio, Luciano

Abstract

The mathematical models dealing with the dynamic stability of production prices are of two types: models of cross-dual dynamics and models of full cost. This paper examines both types of models, but the main effort is devoted to discussing the former. An analytical framework is built, within which most cross-dual models can be studied in a unified way. The severe shortcomings of the usual differential equations versions are emphasized and new light is shed on the role of different assumptions about the consumption function. Possibilities of further progress in this relatively new field of studies are also discussed. Copyright 1992 by Blackwell Publishers Ltd and The Victoria University of Manchester

Suggested Citation

  • Boggio, Luciano, 1992. "Production Prices and Dynamic Stability: Results and Open Questions," The Manchester School of Economic & Social Studies, University of Manchester, vol. 60(3), pages 264-294, September.
    • Handle: RePEc:bla:manch2:v:60:y:1992:i:3:p:264-94
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    Cited by:

    1. Luciano Boggio, 1995. "On Relative Stability and the Coordination Problem in Market Economies," Revue Économique, Programme National Persée, vol. 46(6), pages 1445-1459.
    2. Marc Lavoie, 2003. "Kaleckian Effective Demand and Sraffian Normal Prices: Towards a reconciliation," Review of Political Economy, Taylor & Francis Journals, vol. 15(1), pages 53-74.
    3. Ajit Sinha, 2010. "On the Notion of Equilibrium or the Centre of Gravitation in Economic Theory," Microeconomics Working Papers 23025, East Asian Bureau of Economic Research.
    4. Bellino, Enrico & Serrano, Franklin, 2017. "Gravitation of market prices towards normal prices: some new results," MPRA Paper 79297, University Library of Munich, Germany.
    5. Bellino, Enrico & Serrano, Franklin, 2017. "Gravitation of Market Prices towards Normal Prices: Some New Results," Centro Sraffa Working Papers CSWP25, Centro di Ricerche e Documentazione "Piero Sraffa".
    6. Borissov, Kirill, 2004. "An intertemporal general equilibrium model with given real wage rates," Structural Change and Economic Dynamics, Elsevier, vol. 15(2), pages 207-233, June.
    7. Bellino, Enrico, 1999. "Convergence to long-run equilibrium--On some recent variations of the 'pure' cross-dual model," Structural Change and Economic Dynamics, Elsevier, vol. 10(2), pages 225-237, June.
    8. Gontijo, Cláudio, 2000. "On the Criticism to the Classical Method," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 54(1), January.

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