Full industry equilibrium: a theory of the industrial long run
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| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
2015
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| Subjects: | |
| Online Access: | Cover image Inhaltsverzeichnis |
| Item Description: | Includes bibliographical references and index |
| Physical Description: | XVI, 215 S. |
| ISBN: | 9781107097797 |
Staff View
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| 650 | 4 | |a Managerial economics | |
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Record in the Search Index
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|---|---|
| adam_text | Contents
List of figures page xi
List of tables xiii
Preface xv
Introduction 1
An outline of the book 4
1 Taking seriously the tendency to zero net profits 8
1.1 The long-run theory of the firm, the industry and
the economy 10
1.2 The long-period theory of production, the industry and
the firm 13
1.3 Full industry equilibrium 17
1.4 Comparing full industry equilibria 19
1.5 Concluding remarks 21
2 An isolated industry 22
2.1 Full industry equilibrium 23
2.2 An example 26
2.3 The comparative statics of FIE 30
2.4 On the relationship between input use and input price 33
2.5 On a supposed relationship between long-run output
and price 35
2.6 Produced input use. A very simple case 35
2.7 A falling real price of computing power. The role of
complementarity 39
2.8 Beyond twice-differentiable average cost functions.
On/off inputs 40
2.9 Concluding remarks 43
Appendix 1 On Hicksian substitution 43
Al.l Input substitution in Value and Capital and beyond 43
A1.2 Hicksian substitution and on/off inputs 47
vii
Contents
viii
Appendix 2 A small open economy 49
A2.1 The standard HOS model as an example of FIE 49
A2.2 Trade and industry-specific factors 52
A2.3 The HOS model with intermediate products 54
A2.4 Conclusion 57
3* Multiproduct firms 58
3.1 FIE with many outputs and one input 59
3.2 The comparative statics of FIE 65
3.3 FIE with many outputs and many inputs 68
3.4 The comparative statics of FIE. The general case 69
3.5 Alternative concepts of substitution. A general formulation 74
3.6 Concluding remarks 76
4 Interdependent industries 78
4.1 The FIE input prices with interdependent industries:
an introduction 79
4.2 The FIE input price frontier 81
4.3 The comparative statics of FIE 83
4.4 An example 86
4.5* More general 87
4.6 Introducing a positive rate of interest 89
4.7 A one-industry economy once again 90
4.8 Two industries 91
4.9* Many industries with CES cost functions 94
4.10 Concluding remarks 97
5 Industry-level input use. Some aftershocks from
capital theory 100
5.1 Labour and capital per unit of output in a particular
industry 101
5.2 The direct use of primary inputs in a particular industry;
previous literature 104
5.3 A Wicksellian two-period case 105
5.4 A Nuti-model case 110
5.5 The corn-tractor (Samuelson-Surrogate) case 112
5.6 An input-output case 115
5.7 Recurrence of the complete input-output matrix 116
5.8 Concluding remarks 118
Contents ix
6 The ‘autonomous’ components of input prices 119
6.1 Real cost reduction in an isolated industry 120
6.2 Real cost reduction with interdependent industries 122
6.3 Real cost reduction and TFP 126
6.4 Concluding remarks 127
7 The effects of taxation 129
7.1 An isolated industry 131
7.2 Two industries 135
7.2.1 A tax on one commodity 135
7.2.2 A tax on all commodities 140
7.3 Many industries 142
7.4 The effects of taxation on input use per unit of output 144
7.5 Concluding remarks 147
8 Productivity increase 149
8.1 An isolated industry 151
8.2 Many industries 155
8.3 Many industries with input-output relations 158
8.4 Intermediate inputs, price accounting and TFP 161
8.5 Assessing productivity increase by price accounting: some historical notes 163
8.6 Concluding remarks 166
9 Full industry equilibrium in retrospect 168
9.1 The theory of multi-input demand in the formative period 169
9.1.1 R.G.D. Allen and the theory of derived demand 169
9.1.2 J.L. Mosak and the theory of the competitive firm 171
9.1.3 J.R. Hicks: the contribution of Value and Capital 9.1.4 The standardization of the theory of production: 173
P.A. Samuelson 175
9.2 Input complementarity, ‘nearly constant’ returns to scale and regression 9.2.1 Complementarity and ‘nearly constant’ returns 177
to scale 177
9.2.2 Regression 179
9.3 ‘Input demand’ under industry equilibrium 180
9.4 Industrial interdependence in the traditional theory of supply 186
x Contents
9.5 The role of common factors 188
9.6 Supply curves, relative prices and the numeraire 190
9.7 Sraffian interdependence(s) 191
9.8 Concluding remarks 193
10 Conclusions 196
References
Index
201
209
|
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| discipline | Wirtschaftswissenschaften |
| format | Book |
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| id | DE-604.BV042605886 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-10T07:05:45Z |
| institution | BVB |
| isbn | 9781107097797 |
| language | English |
| lccn | 015002846 |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-028038855 |
| oclc_num | 915339408 |
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| owner_facet | DE-188 DE-355 DE-BY-UBR |
| physical | XVI, 215 S. |
| publishDate | 2015 |
| publishDateSearch | 2015 |
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| spelling | Opocher, Arrigo Verfasser (DE-588)170450007 aut Full industry equilibrium a theory of the industrial long run Arrigo Opocher and Ian Steedman 2015 XVI, 215 S. txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references and index Production (Economic theory) Microeconomics Managerial economics Mikroökonomie (DE-588)4039225-9 gnd rswk-swf Industrieökonomie (DE-588)4133311-1 gnd rswk-swf Gleichgewichtstheorie (DE-588)4071876-1 gnd rswk-swf Langfristige Analyse (DE-588)4200335-0 gnd rswk-swf Mikroökonomie (DE-588)4039225-9 s Gleichgewichtstheorie (DE-588)4071876-1 s Industrieökonomie (DE-588)4133311-1 s Langfristige Analyse (DE-588)4200335-0 s b DE-604 Steedman, Ian Verfasser aut http://assets.cambridge.org/97811070/97797/cover/9781107097797.jpg Cover image Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=028038855&sequence=000004&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Opocher, Arrigo Steedman, Ian Full industry equilibrium a theory of the industrial long run Production (Economic theory) Microeconomics Managerial economics Mikroökonomie (DE-588)4039225-9 gnd Industrieökonomie (DE-588)4133311-1 gnd Gleichgewichtstheorie (DE-588)4071876-1 gnd Langfristige Analyse (DE-588)4200335-0 gnd |
| subject_GND | (DE-588)4039225-9 (DE-588)4133311-1 (DE-588)4071876-1 (DE-588)4200335-0 |
| title | Full industry equilibrium a theory of the industrial long run |
| title_auth | Full industry equilibrium a theory of the industrial long run |
| title_exact_search | Full industry equilibrium a theory of the industrial long run |
| title_full | Full industry equilibrium a theory of the industrial long run Arrigo Opocher and Ian Steedman |
| title_fullStr | Full industry equilibrium a theory of the industrial long run Arrigo Opocher and Ian Steedman |
| title_full_unstemmed | Full industry equilibrium a theory of the industrial long run Arrigo Opocher and Ian Steedman |
| title_short | Full industry equilibrium |
| title_sort | full industry equilibrium a theory of the industrial long run |
| title_sub | a theory of the industrial long run |
| topic | Production (Economic theory) Microeconomics Managerial economics Mikroökonomie (DE-588)4039225-9 gnd Industrieökonomie (DE-588)4133311-1 gnd Gleichgewichtstheorie (DE-588)4071876-1 gnd Langfristige Analyse (DE-588)4200335-0 gnd |
| topic_facet | Production (Economic theory) Microeconomics Managerial economics Mikroökonomie Industrieökonomie Gleichgewichtstheorie Langfristige Analyse |
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