IDEAS home Printed from https://ideas.repec.org/a/bla/metroe/v66y2015i3p426-450.html
   My bibliography  Save this article

A Fixed Capital Model with Transferable and Jointly Utilized Machines in the Sraffa Framework

Author

Listed:
  • Biao Huang

Abstract

type="main"> Fixed capital is treated as a special case of joint production in the Sraffa framework. Much of the literature excludes transferable old machines. Salvadori (1999) builds a model with transferable non-jointly utilized machines whose efficiency paths are independent of the sectors in which the machines are used. He shows that the neat properties of the non-transferable single machine model still hold. In an earlier paper, Salvadori (1988a) builds another model with non-transferable jointly utilized machines. This paper synthesizes these two models. It shows that the properties of the non-transferable jointly utilized machines model still hold if some conditions are satisfied.

Suggested Citation

  • Biao Huang, 2015. "A Fixed Capital Model with Transferable and Jointly Utilized Machines in the Sraffa Framework," Metroeconomica, Wiley Blackwell, vol. 66(3), pages 426-450, July.
    • Handle: RePEc:bla:metroe:v:66:y:2015:i:3:p:426-450
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1111/meca.12076
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. J. E. Stiglitz, 1970. "Non-Substitution Theorems with Durable Capital Goods," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 37(4), pages 543-553.
    2. Bertram Schefold, 1980. "Fixed Capital as a Joint Product and the Analysis of Accumulation with Different Forms of Technical Progress," Palgrave Macmillan Books, in: Luigi L. Pasinetti (ed.), Essays on the Theory of Joint Production, chapter 0, pages 138-217, Palgrave Macmillan.
    3. Kurz, Heinz D. & Salvadori, Neri, 1994. "Choice of technique in a model with fixed capital," European Journal of Political Economy, Elsevier, vol. 10(3), pages 545-569, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Christian Bidard, 2016. "On Transferable Machines," Metroeconomica, Wiley Blackwell, vol. 67(3), pages 513-528, July.
    2. Biao Huang, 2019. "Revisiting fixed capital models in the Sraffa framework," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 36(2), pages 351-371, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Christian Bidard, 2016. "On Transferable Machines," Metroeconomica, Wiley Blackwell, vol. 67(3), pages 513-528, July.
    2. Edwin Burmeister, 1975. "Many Primary Factors in Non‐joint Production Economies," The Economic Record, The Economic Society of Australia, vol. 51(4), pages 486-512, December.
    3. Biao Huang, 2019. "Revisiting fixed capital models in the Sraffa framework," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 36(2), pages 351-371, July.
    4. Adolfo García de la Sienra, 2002. "A Non-Substitution Theorem With Heterogeneous Labor," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 1(1), pages 3-13, Marzo 200.
    5. Santiago J. Gahn, 2022. "Towards an explanation of a declining trend in capacity utilisation in the US economy," Working Papers PKWP2214, Post Keynesian Economics Society (PKES).
    6. Biao Huang, 2020. "Normal utilization rate in the Sraffa framework," Metroeconomica, Wiley Blackwell, vol. 71(4), pages 767-780, November.
    7. Vienneau, Robert L., 2021. "Fluke Switch Points in Pure Fixed Capital Systems," Centro Sraffa Working Papers CSWP48, Centro di Ricerche e Documentazione "Piero Sraffa".
    8. Kuga, K., 2001. "The Non-Substitution Theorem: Multiple Primary Factors and the Cost Function Approach," ISER Discussion Paper 0529, Institute of Social and Economic Research, Osaka University.
    9. Dhyne, Emmanuel & Kikkawa, Ayumu Ken & Kong, Xianglong & Mogstad, Magne & Tintelnot, Felix, 2023. "Endogenous production networks with fixed costs," Journal of International Economics, Elsevier, vol. 145(C).
    10. van de Klundert, T.C.M.J. & van Schaik, A.B.T.M., 1974. "On shift and share of durable capital," Other publications TiSEM acdc6664-89c5-4e06-ab62-c, Tilburg University, School of Economics and Management.
    11. PARYS, Wilfried, 2013. "All but one: How pioneers of linear economics overlooked Perron-Frobenius mathematics," Working Papers 2013030, University of Antwerp, Faculty of Business and Economics.
    12. van de Klundert, T.C.M.J. & van Schaik, A.B.T.M., 1978. "On shift and share of durable capital," Other publications TiSEM a574edd0-07cd-4db4-a29a-f, Tilburg University, School of Economics and Management.
    13. Christian Bidard, 2020. "The Wage-Maximisation Property," EconomiX Working Papers 2020-17, University of Paris Nanterre, EconomiX.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:metroe:v:66:y:2015:i:3:p:426-450. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0026-1386 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.