Extension of the Model to Capital

Thorsten Hens and Sabine Elmiger
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Thorsten Hens: University of Zurich
Sabine Elmiger: University of Zurich

Chapter 4 in Economic Foundations for Finance, 2019, pp 25-45 from Springer

Abstract: Abstract The basic economic model from Chap. 3 already featured some realistic properties: real and not nominal prices determine equilibrium allocations, disequilibria in product markets imply disequilibria in labor markets and vice versa, and technological progress results in higher wages and profits.

Date: 2019
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DOI: 10.1007/978-3-030-05427-4_4

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