David Ricardo und die Grenzwerttheorie

David Ricardo und die Grenzwerttheorie

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Monograph

Identifikator:: 1033563544

URN:: urn:nbn:de:zbw-retromon-53661

Document type:: Monograph

Author:: Kalinov, Dimitrij http://d-nb.info/gnd/13899174X

Title:: David Ricardo und die Grenzwerttheorie

Place of publication:: Berlin

Year of publication:: 1906

Scope:: 1 Online-Ressource (41 Seiten)

Digitisation:: 2018

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Document type:: Monograph

Structure type:: Contents

Collection:: Economics Books

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532 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 4 where p;, is the price of good j in period ¢ and g, , the price of capital-service k in period à. Substituting for x;,/x;, and Sp: 1/X;, rom (4) and taking logs, we may put (3) in the form n n (5) logpii— > 4; log py, — 2 bi; log ¢;1 — ay logp, s+ Gy=o0 i= i= where (6) n n G; = log F; + 2, a; log a; + 2 6 108 6j; j= I= Let us now consider a person who has a given sum of mon- ey M available for expenditure. If he lends that amount to someone for one period at the prevailing rate of interest », he will enter the next period with amount (1 +7)M. Alternatively, he may spend M on goods; if he spends it exclusively on a capital good k in period £, he obtains M/p, ; units of that good. By letting them out hire, he receives income by the amount Jn,1(M/P;;) in period £, which will grow to (1+7)g,,(M/P; 1) at the beginning of period #+1. Although the capital goods he owns will be worn at a certain rate (say) d, in the process of production, he will still own (1 - d;)(M/p,,) units of good k at the beginning of period #+1, which will be evaluated as (x — d,)(M/Pr1)Pr141 at the price in period #+1. In equilibrium neither option can be advantageous over the other, so that (147) ME (1+7)9ne (M/An 0) + (1 —d) (M/bx) Prt +1 By dividing both sides by M/p, ,, this may be put in a simple form 7) (I + 7) pr, = (1 + 7) Gre + (1 — dy) Priv 9] Morishima - pag. 4

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