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On the Rate of Interest in a Neo-Austrian Theory of Capital

In: Value and Capital: Fifty Years Later

Author

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  • Hiroshi Atsumi

    (University of Tsukuba)

Abstract

Given an economy endowed with a set of production processes of the ‘flow-input, flow-output’ type, what determines the rate of interest in competitive equilibrium? When a process has multiple discount rates, what is the real yield? In the von Neumann expanding economy, the maximal growth rate equals the minimal possible interest rate. Is the neo-Austrian model a special case of a general von Neumann approach? It is hoped to show that ‘Austrian triangularity’ is useful to solve these problems.

Suggested Citation

  • Hiroshi Atsumi, 1991. "On the Rate of Interest in a Neo-Austrian Theory of Capital," International Economic Association Series, in: Lionel W. McKenzie & Stefano Zamagni (ed.), Value and Capital: Fifty Years Later, chapter 14, pages 393-409, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-11029-2_24
    DOI: 10.1007/978-1-349-11029-2_24
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    Cited by:

    1. Sonin, Isaac M. & Whitmeyer, Mark, 2020. "Some nontrivial properties of a formula for compound interest," Finance Research Letters, Elsevier, vol. 33(C).
    2. Bidard, Christian, 1999. "Fixed capital and internal rate of return," Journal of Mathematical Economics, Elsevier, vol. 31(4), pages 523-541, May.
    3. Isaac M. Sonin & Mark Whitmeyer, 2018. "Some Nontrivial Properties of a Formula for Compound Interest," Papers 1809.10566, arXiv.org.

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