On the Rate of Interest in a Neo-Austrian Theory of Capital

Hiroshi Atsumi
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Hiroshi Atsumi: University of Tsukuba

Chapter 14 in Value and Capital: Fifty Years Later, 1991, pp 393-409 from Palgrave Macmillan

Abstract: Abstract Given an economy endowed with a set of production processes of the ‘flow-input, flow-output’ type, what determines the rate of interest in competitive equilibrium? When a process has multiple discount rates, what is the real yield? In the von Neumann expanding economy, the maximal growth rate equals the minimal possible interest rate. Is the neo-Austrian model a special case of a general von Neumann approach? It is hoped to show that ‘Austrian triangularity’ is useful to solve these problems.

Keywords: Positive Root; Characteristic Polynomial; Competitive Equilibrium; Market Rate; Output Sequence (search for similar items in EconPapers)
Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-11029-2_24

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DOI: 10.1007/978-1-349-11029-2_24

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