Capital mobility and costs of adjustment

Max Albert

No 96, Discussion Papers, Series II from University of Konstanz, Collaborative Research Centre (SFB) 178 "Internationalization of the Economy"

Abstract: The paper considers intersectoral capital mobility in the context of investment theory. Convex costs of adjustment explain imperfect mobility of capital between sectors. Stocks of capital are endogenous; the model essentially is a twosector growth model with Keynesian investment functions. The paper analyzes adjustment in a small open economy with balanced and imbalanced trade and adjustment in a closed economy.

Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:kondp2:96

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