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

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Document type:: Monograph

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Title:: A new theoretical approach to the problems of economic growth / Luigi L. Pasinetti, King's College - Cambridge - Great Britain

Collection:: Economics Books

SEMAINE D'ETUDE SUR LE ROLE DE L’ANALYSE ECONOMETRIQUE ETC. 607 have noticed that there is a series of coefficients which have not been mentioned: the Ann’ S, namely the demand coefficients for new investments. The reason is that these coefficients can- not be specified in advance. They are themselves unknowns, in the present model, as they must be determined in such a way as to be consistent with the growing productive potential of the system. Our task is, first of all, to find out the conditions under which equilibrium may be maintained over time; and then to nvestigate the time-paths of the variables of the system. 2. The conditions for a dynamic equilibrium We might begin by saying that, in order to maintain equi- librium over time, conditions (II.20) and (II.21), which are satisfied by hypothesis at time zero, must also and constantly be kept satisfied as time goes on. A statement of this kind, however, now becomes uninteresting and artificial, because those two conditions cease to be independent of one another, when time is allowed to elapse. If population is growing, both the supply of labour services and the demand for each product increase, as time goes on. [n order that the new labour force may find employment and che growing potential demand may become effective, productive capacity must also increase. Thus, the equilibrium conditions for productive capacitv in time become 111.2) which simply means that there must be an increase in the pro- ductive capacity of each commodity, parallel to the increase in its demand. The formulation may be expressed in a more helpful way ‘101 Pasinetti - pag. 37

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