SEMAINE D'ETUDE SUR LE ROLE DE L ANALYSE ECONOMETRIQUE ETC. 
55 
In the state of the long-run equilibrium where all mrice- 
remain constant over time, we have from (5) and 
(8) 
lor 
+ 
9) 
Substituting for g, from (g), and subtracting (2) multiplied 
by log p,, we may rewrite (8) in the form 
(10) logy; -s 
3 r+ 4d, 
a; + by) log v;== 2 b;; log 
-G; (i=1,...,n, 
where v; is the price of good : in terms of labour, i.e. v,=p,/p,. 
Equations (10) allow us to determine the long-run equilibrium 
wage price, v,, ..., v,, Once the rate of interest r is given. 
Let us now turn to the output-determination side of our 
system. At the beginning of period #+ 1, industry ? has good ; 
of the amount (1 - d;)s;;,p so that the total amount of good 
available in the economy i- - (1 -d;)s,. This, together wit. 
the output of good j in period ¢+ 1, is distributed among p:. 
ducers and consumers. 
As for consumers, we assume that capitalists do not con- 
sume and workers who are identical and can offer only one 
anit of labour spend their income upon various commodities 
without making any savings. Let y, (¢=1, ..., n) be the con- 
sumption of good i per worker in period t. These amounts will 
be determined so as to maximize the utility function 
d 
ty veey 4 
Morishima - pag. 3