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

Structure type:: Chapter

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

Collection:: Economics Books

+4 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 2é& where pis the greatest integer that multiplied by s and sub- tracted from ¢ leaves a positive remainder (8), the movements through time of the demand coefficients may be written as (?) ‘V.q) a. (D=a. (t-0e®. 1=1,2, ... (n-1), where each 7; is an f; function of the technical coefficients and now also of (£-0). In order not to complicate the notation excessively, this functional dependence is not explicitly written in (V.4), nor will it be written hereafter, but it must always be taken as understood. Of course, the same notation in terms of 8 can be used also in formulations (V.1) and (V.2), and this will be done, in the following analysis, any time it is required by reasons of sym- metry. 2. A few restrictions First of all, it may be useful to impose a few restrictions on the coefficients of our system. These restrictions do not imply anything new and in fact have always been implicit in our pre- vious analysis. We only make them explicit now for the sake of rigour. The reason for these restrictions is that our mathem- atical terms are very general and their generality needs to be limited to the range in which it has economic sense. (?) As explained in footnote (1), demand coefficients represent average per-capita consumption. No discussion is carried out here about possible complications arising from a changing distribution of income among indi- viduals or from a changing composition of the population as regards sex and age. Evidently, the simplest way of interpreting our analysis is to suppose that both these features remain invariant in time. However, even if they should change, their changes can be neither quick nor big. In any case, they would not affect the conclusions of the following analysis because their effect would simply be to anticipate or postpone turning points. without altering the nature of the trends through time 10] Pasinetti - pag. 74

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