THE TWO-SECTOR VON THÜNEN ORIGINAL MARGINAL PRODUCTIVITY MODEL OF CAPITAL; AND BEYOND

Erkko Etula ()

Metroeconomica, 2008, vol. 59, issue 1, pages 85-104

Abstract: This article considers a two-sector model of scalar capital from the perspectives of smoothly differentiable neoclassical technologies and also non-differentiable technologies based on discrete alternative Leontief-Sraffa techniques. The analysis shows that in these Thünen-like scenarios without joint production the real wage and the interest rate are necessarily in an inverse Ricardian tradeoff. This complements the findings of Samuelson and Etula (2006, Japan and the World Economy, 18, pp. 331-356) and completes the analysis of single homogeneous scalar capital. Copyright © 2008 The Author; Journal compilation © 2008 Blackwell Publishing Ltd.

Date: 2008

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