Study week on the econometric approach to development planning

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Monograph

Identifikator:: 1824422792

URN:: urn:nbn:de:zbw-retromon-217476

Document type:: Monograph

Title:: Study week on the econometric approach to development planning

Place of publication:: Amsterdam [u.a.]

Publisher:: North-Holland Publ. Co. [u.a.]

Year of publication:: 1965

Scope:: XLVII, 1259 S.; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

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

Identifikator:: 1824422792

URN:: urn:nbn:de:zbw-retromon-217476

Document type:: Monograph

Title:: Study week on the econometric approach to development planning

Place of publication:: Amsterdam [u.a.]

Publisher:: North-Holland Publ. Co. [u.a.]

Year of publication:: 1965

Scope:: XLVII, 1259 S.; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

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

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Document type:: Monograph

Structure type:: Chapter

Title:: The analysis of economic systems / Richard Stone, Cambridge University - Cambridge - Great Britain

Collection:: Economics Books

Document type:: Monograph

Structure type:: Chapter

Title:: The analysis of economic systems / Richard Stone, Cambridge University - Cambridge - Great Britain

Collection:: Economics Books

3 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 2% year; let x denote the capacity added in the year as a result of new plant coming into operation; and let s denote the capacity subtracted through the scrapping of old plant. Then (IV. 14) Av=x-s Correspondingly, let Al denote the increase in employment; let » denote the labour added to man the new plants; and let # denote the reduction in employment due to plant retirements. Then (IV. 15) Finally, let p denote the net output price, which is equal to the cost of labour and capital per unit of output, and let w denote the wage rate. Then if we multiply (IV. 14) by b and (IV. 15), by w and subtract, we obtain (IV. 16) pAy—wÂl =(px—wn)—(ps—wr) = (px —wn) if plant is scrapped when it ceases to earn a return, that is when ps=wr. | Now let us define the initial rate of return, #*, as the gross rate of return to capital embodied in new plant in the first year of its operation. Then, denoting gross investment in new plant by v¥, (IV. 1 7) y* = (px - wn)/u* (pÂv - wAÂl)/v from (IV. 16), on the assumption that plant is scrapped when it ceases to earn a return. Equation (IV. 17) can be rewritten either as dV. 15) oF 3 gdh Le '1] Stone - pag. 48

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