Examples of Production Relations Based on Microdata
The view has been expressed by many that a meaningful capital theory can and should be developed without ever defining an aggregate capital index. A fine prototype of this approach is Malinvaud’s now classical paper of 1953. The same banner has been unfurled, though not with full identity of views, in Cambridge, England and in Cambridge, Massachusetts.
KeywordsCapital Stock Discount Factor Productive Relation Capital Good Consumption Good
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