SEMAINE D'ÉTUDE SUR LE ROLE DE L’ANALYSE ECONOMETRIQUE ETC. 805

the constant ©. This condition signifies that the value of capital
 per unit of primary income is independent of the rates
of interest and growth : and © (").
Of course it is again found that R, is maximum for i-p=o.
But it will also be remarked that national income R is maximum
 for :=0 whatever p. This latter is not a general finding;
it is true only for the exponential model. The notation Ry
represents the maximum value of R.
It should also be observed that relation (251-12) between y,
vc and p is independent of the model. It is based only on the
constancy of (i - ¢) and the invariance of the function (68) over
ime [§120 and relation (125-2)].
Expansions in series form as functions of à and 7 - o are done
as previously (2) by putting

which value corresponds to the exponential expression for
For small values of (? - ç) we find here

(251-18)

T= es -
oy
T

k 2
© ({-p,

and for the small values of ¢

(251-10

R.,

h
Se,

§ 240.
(!) In my Tokyo monograph (Arrais, 1960 A) I derived and made deailed
 comments on the different relations given above for the case n=o0

g. 109
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