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Pasinetti's Vertically Hyper-integrated Sectors and Natural Prices

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  • Lavoie, Marc

Abstract

Hyper-vertically integrated sectors and their natural prices, as presented by L. L. Pasinetti (1988), are reexamined in a slightly different framework and with the help of a very simple three-industry model. It is shown that, while Pasinetti's analysis takes into account basic commodities and interdependence, it short-circuits them. It is then asked whether such an approach is required to analyze growing subsystems. Copyright 1997 by Oxford University Press.

Suggested Citation

  • Lavoie, Marc, 1997. "Pasinetti's Vertically Hyper-integrated Sectors and Natural Prices," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 21(4), pages 453-467, July.
    • Handle: RePEc:oup:cambje:v:21:y:1997:i:4:p:453-67
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    Cited by:

    1. Araujo, Ricardo Azevedo & Santini, Theo & de Acypreste, Rafael, 2023. "A vertically integrated approach to increasing returns and cumulative causation," Structural Change and Economic Dynamics, Elsevier, vol. 65(C), pages 49-58.
    2. Yoshihara, Naoki & Veneziani, Roberto, 2013. "The Measurement of Labour Content: A General Approach," Discussion Paper Series 587, Institute of Economic Research, Hitotsubashi University.
    3. Ricardo Azevedo Araujo & Joanílio Rodolpho Teixeira, 2010. "A Multi-Sector Version of the Post-Keynesian Growth Model," Working papers - Textos para Discussao do Departamento de Economia da Universidade de Brasilia 330, Departamento de Economia da Universidade de Brasilia.
    4. Araujo, Ricardo Azevedo & Teixeira, Joanilio Rodolpho, 2002. "Structural change and decisions on investment allocation," Structural Change and Economic Dynamics, Elsevier, vol. 13(2), pages 249-258, June.
    5. Araujo, Ricardo Azevedo & Teixeira, Joanílio Rodolpho, 2011. "Decisions on investment allocation in the post-Keynesian growth models," MPRA Paper 33639, University Library of Munich, Germany.

    More about this item

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

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