On the Upper- and Lower-Bounds of Workers' Propensity to Save in a Two-Class Pasinetti Economy

Reiner Franke

Australian Economic Papers, 1985, vol. 24, issue 45, 271-77

Abstract: In the two-class Pasinetti model it is asked in what range the propensities of workers to save permit the existence of an equilibrium if consumption of workers and capitalists is differentiated. In the multi-sectoral framework of quadratic Leontief techniques and production prices, an explicit upper bound is given. In particular, it depends on the consumption structure of workers, but not of capitalists. Whereas the lower bound is zero, this need not necessarily carry over to joint production systems, as is demon strated by an example leading to two disjoint existence intervals. Copyright 1985 by Blackwell Publishers Ltd/University of Adelaide and Flinders University of South Australia

Date: 1985
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