Temporal convergence and factor intensities
In the two-sector neoclassical production model with no factor-market distortions, the value and physical factor-intensity rankings of the two sectors may differ when the economy is out of long-run equilibrium, but such a difference does not imply any failure of convergence to long-run equilibrium.
| Hoofdauteurs: | , |
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| Formaat: | Journal article |
| Taal: | English |
| Gepubliceerd in: |
North-Holland Publishing Company
1979
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| Onderwerpen: |
| Samenvatting: | In the two-sector neoclassical production model with no factor-market distortions, the value and physical factor-intensity rankings of the two sectors may differ when the economy is out of long-run equilibrium, but such a difference does not imply any failure of convergence to long-run equilibrium. |
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