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Integrating the Financing of Production and a Rate of Interest into Production Price Models

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  • Franke, Reiner

Abstract

In the ordinary Sraffian production price equations, a rate of interest, i, is introduced as an additional variable. It is argued that even in the long run it will generally fall short of the rate of profit on own capital, r. Employing two simple behavioral functions for industrial and financial capitalists and integrating the quantity side permits to maintain the one degree of freedom. Furthermore, definite results ca n be derived on the relationships between the, now, three distributive variables i, r, and the real wage rate. Copyright 1988 by Oxford University Press.

Suggested Citation

  • Franke, Reiner, 1988. "Integrating the Financing of Production and a Rate of Interest into Production Price Models," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 12(2), pages 257-272, June.
    • Handle: RePEc:oup:cambje:v:12:y:1988:i:2:p:257-72
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    Cited by:

    1. Hein, Eckhard, 1999. "Interest Rates, Income Shares, and Investment in a Kaleckian Model," MPRA Paper 18607, University Library of Munich, Germany.
    2. Yajima, Giuliano Toshiro & Nalin, Lorenzo, 2024. "Technological lock-in developing countries: The role of external financing," Structural Change and Economic Dynamics, Elsevier, vol. 70(C), pages 494-502.
    3. Riccardo Zolea, 2024. "An introduction to the distributional role of bank credit to workers in a surplus approach framework," Working Papers PKWP2403, Post Keynesian Economics Society (PKES).
    4. Giuliano Toshiro Yajima & Lorenzo Nalin, 2022. "Financial Barriers to Structural Change in Developing Economies: A Theoretical Framework," Economics Working Paper Archive wp_1004, Levy Economics Institute.
    5. Zolea, Riccardo, 2022. "A Model of the Relationship between the Interest Rate and the Profit Rate," Centro Sraffa Working Papers CSWP55, Centro di Ricerche e Documentazione "Piero Sraffa".

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