The paper contributes to the debate on growth and distribution in a non-mainstream perspective. It looks at the role that capacity utilization plays in the process of growth under the hypothesis that the rate of capital depreciation is a function of the degree of capacity utilization. Our hypothesis implies results partly different from those obtained by other models in which capacity utilization plays a key role. In particular, a varying rate of depreciation affects the conditions under which distributional changes in favor of wages affect the rate of growth positively. © 2014 John Wiley & Sons Ltd.
Growth with unused capacity and endogenous capital depreciation / Patriarca, Fabrizio; Sardoni, Claudio. - In: METROECONOMICA. - ISSN 0026-1386. - STAMPA. - 65:4(2014), pp. n/a-n/a. [10.1111/meca.12053]
Growth with unused capacity and endogenous capital depreciation
PATRIARCA, Fabrizio;SARDONI, Claudio
2014
Abstract
The paper contributes to the debate on growth and distribution in a non-mainstream perspective. It looks at the role that capacity utilization plays in the process of growth under the hypothesis that the rate of capital depreciation is a function of the degree of capacity utilization. Our hypothesis implies results partly different from those obtained by other models in which capacity utilization plays a key role. In particular, a varying rate of depreciation affects the conditions under which distributional changes in favor of wages affect the rate of growth positively. © 2014 John Wiley & Sons Ltd.File | Dimensione | Formato | |
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