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:: The role of capital in economic development / Maurice Allais, Ecole Nationale Supérieure de Mines Paris - France

Collection:: Economics Books

716 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 28 saucepans which will finally be bought by consumers for their own use. A part of the wage bill generated in the construction of the blast furnace will finally be incorporated in the price of the saucepan; it will thus appear, with some time lag, in national income. It can be seen that consumed national income will at a given time include wage outlays which were made at an earlier time, and, at least in theory, it is possible to consider a curve which specifies the distance from the present of various earlier outlays (wages and rents) which appear in the consumed national in- come of the time # considered. This curve can be called the « characteristic curve » of the capitalistic process under study. If there is a Paretian optimum, factor income is imputed proportionally to the marginal productivities considered in terms of physical values (1). In parallel with the characteristic curve which defines the origin of the different elements of primary income appearing in the consumed income of time #, an amortisation curve can be defined which represents the time distribution of the primary -ncome of time # over the various subsequent periods (>. The term Ru (2) will be used to represent the global amount of primary income per unit of time preceding # which is incor- porated in total consumed national income R_(#) of time #. The global amount of primary income per unit of time at time ? (') This imputation generates a number of very interesting problems which considerations of space preclude me from discussing. On this ques- tion, see in particular my Treatise on Pure Economic Theory (1943) and my Cambridge paper (1963): Some Analytical and Practical Aspects of the Theory of Capital. Appendix I. See also ALLAIS (1961 - C), The Definition of Characteristic Fonctions and the Problem of Imputation (La définition des fonctions caractéristiques et le problème de l’imputation). () In general, the definition of these two curves results from the way in which the accounting of imputations is undertaken in practice. If a Paretian optimum obtains. these imputations satisfv the corresponding conditions 11] Allaic - pag. 20

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