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A Cellular Automata Model Of The General Rate Of Profit

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  • Claudio Castelo Branco Puty

Abstract

We present a simulation exercise of classical free competition in which individual capitals attracted by prospective rates of profit move across industries in their Moore neighborhoods. Capitals, in general, never settle down to a fully equalized general rate of profit position and the most common characteristic of the series of cross sectional average rate of profit is the never ending gravitation around the average rate of profit determined by the number of capitals in the lattice-economy. The statistical properties that emerge from the interaction of our agents resembles stable distributions chracterized by skewness and heavy tails.

Suggested Citation

  • Claudio Castelo Branco Puty, 2005. "A Cellular Automata Model Of The General Rate Of Profit," Anais do XXXIII Encontro Nacional de Economia [Proceedings of the 33rd Brazilian Economics Meeting] 006, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    • Handle: RePEc:anp:en2005:006
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    File URL: http://www.anpec.org.br/encontro2005/artigos/A05A006.pdf
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    References listed on IDEAS

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    1. Julio J. Rotemberg & Michael Woodford, 1991. "Markups and the Business Cycle," NBER Chapters, in: NBER Macroeconomics Annual 1991, Volume 6, pages 63-140, National Bureau of Economic Research, Inc.
    2. Godley, Wynne A H & Nordhaus, William D, 1972. "Pricing in the Trade Cycle," Economic Journal, Royal Economic Society, vol. 82(327), pages 853-882, September.
    3. Sen, Amartya, 1973. "On Economic Inequality," OUP Catalogue, Oxford University Press, number 9780198281931, Decembrie.
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    More about this item

    JEL classification:

    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian

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