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  • 1
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Kyklos 29 (1976), S. 0 
    ISSN: 1467-6435
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Sociology , Economics
    Type of Medium: Electronic Resource
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  • 2
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    Unknown
    Wien : Periodicals Archive Online (PAO)
    Journal of economics/Zeitschrift für Nazionalökonomie. 33 (1973) 115 
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  • 3
    Electronic Resource
    Electronic Resource
    Springer
    Journal of economics 33 (1973), S. 115-126 
    ISSN: 1617-7134
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Conclusion In this paper an attempt has been made to reconcile the phenomenon of a simultaneous increase in average labour productivity and labour intensity with neo-classical theory. Under certain technical and psychological conditions, this phenomenon can indeed be generated by a neo-classical model, once it has been assumed that production does not only depend on labour and the number of capital goods but on the operating-hours per machine as well. A necessary condition is that the elasticity of substitution is less than unity. Moreover, the elasticity of the degree of overtime aversion with respect to the number of operating-hours per machine has to be negative and smaller in absolute value than the substitution coefficient. Today almost everybody agrees that in reality the elasticity of substitution is less than unity. So, the technical condition may be called realistic. However, it is doubtful whether this is the case with the psychological condition. It seems rather unrealistic that the aversion against overtime work decreases if one has to work at more inconvenient hours. Thus, we may conclude that it is doubtful whether amended neoclassical theory is able to give a realistic explanation of the phenomenon of simultaneously increasing labour intensity and labour productivity. In this respect approaches which discern the phenomenon of labour hoarding [5] or employ U-shaped short-run cost curves [2], may be more promising.
    Type of Medium: Electronic Resource
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  • 4
    ISSN: 1572-9982
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Summary With some exceptions — e.g., Tobin and Johnson — theorists have been looking for an explanation of economic growth in the real sector. This is the first of three successive papers on the problem of to what extent monetary phenomena influence the real variables in a process of economic growth. If one aims at adding a monetary sector to a real model of economic growth, the first thing to do is getting an exposition of the monetary theory which is most suitable for this purpose. The monetary theory used in this paper is based on Patinkin and Gurley and Shaw. The conditions under which money does not affect the real economic process are amply discussed. Only in very special cases money turns out to be neutral. In the two subsequent papers this monetary theory is used for an investigation into the impact of money on growth according to a neo-classical and a neo-keynesian model of economic growth.
    Type of Medium: Electronic Resource
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  • 5
    ISSN: 1572-9982
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
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  • 6
    ISSN: 1572-9982
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Summary This is the third of three successive papers on the problem of to what extent monetary phenomena influence the real variables in a process of economic growth. In the first paper the conditions under which money is neutral was examined. The second was devoted to the impact of money in a neo-classical growth model. In the present paper the real neo-keynesian growth model of Harrod is taken as a starting-point. This is a special case of the neo-classical model, for the introduction of a constant rate of interest in a neoclassical production structure yields a constant capital-labor ratio as a result. According to the Harrod model, capital scarcity or capital abundance will generally prevail. Stable growth is a mere accident. Subsequently, the assumption of a constant rate of interest is relaxed. The rate is now assumed to be dependent on the national product and the money supply. This makes the model more flexible. Control of the growth rate of the money supply is then an instrument in the hands of the monetary authorities for the purpose of preventing situations of capital scarcity or abundance. In the case of capital scarcity, the growth rate of the money supply has to be raised. Paradoxically enough, the result of this will be that the rate of interest rises. In a situation of capital abundance the opposite is true. A steady and stable growth path is possible, because the monetary authorities are in a position to let the rate of interest take a value at which full employment prevails.
    Type of Medium: Electronic Resource
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  • 7
    Electronic Resource
    Electronic Resource
    Springer
    De economist 117 (1969), S. 695-698 
    ISSN: 1572-9982
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
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  • 8
    Electronic Resource
    Electronic Resource
    Springer
    De economist 118 (1970), S. 370-395 
    ISSN: 1572-9982
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Summary In 1961 Arrow, Chenery, Minhas and Solow presented their C.E.S. production function, which was based on the relation between the real wage rate and the average labour productivity. They argued that, if the aggregate production function is continuous, lineair and homogeneous, then, with perfect competition and profit maximalization prevailing, the relation between the real wage rate and the average labour productivity is reflection of the production structure. This relation can, therefore, be used for specifying the production structure. In the present paper, the same line of thought is applied to the Dutch economy. Several hypotheses on the relation between wage rate and average labour productivity are tested. Statistically, it turns out that in the Dutch economy the elasticity of substitution between capital and labour is not a constant: it declines with increasing capital-labour ratio. Two statistically acceptable production equations that have this feature are presented. The efficiency parameter appearing as an integration constant in both production equations shows a decline: with labour productivity constant, the capital-labour ratio is falling over time. This means that the relation between labour productivity and capital-labour ratio shifts over time. Another outcome of this study is that technical progress is capitalaugmenting and that it brings about 50 percent of the growth in the labour productivity.
    Type of Medium: Electronic Resource
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  • 9
    Electronic Resource
    Electronic Resource
    Springer
    De economist 118 (1970), S. 491-505 
    ISSN: 1572-9982
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Summary Two behavioural models of economic growth are developed: a neo-classical and a neo-keynesian (Kaldorian) one. In the neo-classical model consumers aspire to a certain level of consumption. Savings and supply of labour (man-hours) are the means for reaching this level. In the neo-keynesian model firms and households have a certain aspiration level with respect to profits and consumption, respectively. To reach these levels firms decide to invest and households to supply man-hours. In both models growth is entirely dependent on the parameters of the behaviour equations. In this respect they differ from the traditional neo-classical and neo-keynesian (Kaldorian) models, in which growth is eventually determined by autonomous technical progress and growth of the labour force.
    Type of Medium: Electronic Resource
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  • 10
    ISSN: 1572-9982
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Summary In Duesenberry's growth model and in Matthews' trade cycle model, insufficient attention is paid to the existence and the stability of the equilibrium of the market of produced goods. If entrepreneurs try to equalize actual and desired utilization of the capital stock, equilibrium of the goods market can only continue to exist if full utilization of the capital equipment prevails at the same time. It is possible to develop a mechanism which results in capital being fully utilized if the goods market is in equilibrium. If the actual utilization tends to adjust itself to the desired, the equilibrium of the goods market tends to disappear. Under these conditions the equilibrium of the goods market is stable.
    Type of Medium: Electronic Resource
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