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A Note about the Interest Rate and the Revenue Function

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  • Neri Salvadori
  • Ian Steedman

Abstract

Economic systems with a positive, uniform, and constant interest rate have been widely studied. It is shown that, in such systems, the presence of produced inputs undermines some standard results concerning the revenue function. The partial derivative, with respect to a product price, is not always equal to the net output of the product and the generalized positive supply response is not always valid. P. A. Samuelson's reciprocity conditions are also upset.

Suggested Citation

  • Neri Salvadori & Ian Steedman, 1988. "A Note about the Interest Rate and the Revenue Function," Eastern Economic Journal, Eastern Economic Association, vol. 14(2), pages 153-156, Apr-Jun.
    • Handle: RePEc:eej:eeconj:v:14:y:1988:i:2:p:153-156
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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume14/V14N2P153_156.pdf
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    References listed on IDEAS

    as
    1. Harvey Gram, 1985. "Duality And Positive Profits," Contributions to Political Economy, Cambridge Political Economy Society, vol. 4(1), pages 61-77.
    2. Paul A. Samuelson, 1953. "Prices of Factors and Goods in General Equilibrium," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 21(1), pages 1-20.
    3. Gale, David & Rockwell, Richard, 1975. "On the Interest Rate Theorems of Malinvaud and Starrett," Econometrica, Econometric Society, vol. 43(2), pages 347-359, March.
    4. J. A. Mirrlees, 1969. "The Dynamic Nonsubstitution Theorem," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 36(1), pages 67-76.
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