The Wage-Maximisation Property

Christian Bidard

No 2020-17, EconomiX Working Papers from University of Paris Nanterre, EconomiX

Abstract: For linear single-product models, the competitive long-run technique is wage maximising at a given rate of profit. The property is extended to multiple-product systems that satisfy an additional hypothesis called robustness. In particular, the nonsubstitution property implies that all prices are minimum in terms of wage. The result applies to several types of models, including production with fixed capital. On the robustness hypothesis, the wage-maximisation property can be seen as the counterpart in value terms of the golden rule.

Keywords: Nonsubstitution; wage maximisation; golden rule; fixed capital; Sraffa. (search for similar items in EconPapers)
JEL-codes: B24 C62 D41 D51 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2020
New Economics Papers: this item is included in nep-hme
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://economix.fr/pdf/dt/2020/WP_EcoX_2020-17.pdf (application/pdf)

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:drm:wpaper:2020-17

Access Statistics for this paper

More papers in EconomiX Working Papers from University of Paris Nanterre, EconomiX Contact information at EDIRC.
Bibliographic data for series maintained by Valerie Mignon ( this e-mail address is bad, please contact ).