Savings, Investment and Capital in a System of General Intertemporal Equilibrium

Pierangelo Garegnani

A chapter in Capital Theory, the Surplus Approach, and Effective Demand, 2024, pp 229-294 from Springer

Abstract: Abstract The paper argues that general intertemporal equilibria, while avoiding ‘capital’ as a single quantity among factor endowments, depend on a similar notion through investment demand and savings supply. With the help of a simple model (the same one used by Hahn, 1982, to counter the capital theory critique), the paper brings out the equality of saving and investment decisions implied, for each period, in an intertemporal equilibrium. This makes it possible to see the presence in such an equilibrium of a ‘quantity of capital’ as a value magnitude in the flow form of savings supply and investment demand, which encounters difficulties related to its dependence on the price system comparable to those found in the long-period versions of general equilibrium.

Date: 2024
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:spshcp:978-3-031-23643-3_5

Ordering information: This item can be ordered from
http://www.springer.com/9783031236433

DOI: 10.1007/978-3-031-23643-3_5

Access Statistics for this chapter

More chapters in Springer Studies in the History of Economic Thought from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().