Fluke Switch Points in Pure Fixed Capital Systems

Robert L. Vienneau ()
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Robert L. Vienneau: Independent Researcher

No CSWP48, Centro Sraffa Working Papers from Centro di Ricerche e Documentazione "Piero Sraffa"

Abstract: This article considers structural economic dynamics, in models with fixed capital and a choice of technique, of the production of commodities. Fluke switch points are de-scribed and catalogued. For fluke switch points, parameter perturbations create a quali-tative change in how the choice of technique varies with distribution. Techniques are presented for visualizing partitions of parameter spaces such that the analysis of the choice of technique does not vary within each region. Implications are drawn about the choice of the truncation of the operation of (or the economic life of) machines and about the adoption of roundabout techniques.

Keywords: Fixed capital; Choice of technique; Cambridge Capital Controversy; Structural dynamics. (search for similar items in EconPapers)
JEL-codes: B51 B53 C67 D24 D33 O33 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2021-03
New Economics Papers: this item is included in nep-hme and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ris:sraffa:0048

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