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Induzierter technischer Fortschritt
MICHAEL BRAULKE and VIKTOR MENSCHOW
Zeitschrift für die gesamte Staatswissenschaft / Journal of Institutional and Theoretical Economics
Bd. 127, H. 2. (Mai 1971), pp. 200-212
Published by: Mohr Siebeck GmbH & Co. KG
Stable URL: http://www.jstor.org/stable/40749444
Page Count: 13
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We have tried to give a more detailed analysis of induced technical progress along the familiar Kennedy-Weizsäcker-line. Our main purpose is to show that the long-run behavior of an economy varies with the domain and curvature assumptions of the Kennedy-frontier. At first, for the sake of completeness, Samuelson's proof, which draws heavily upon the strict concavity of the Kennedy-frontier, is recited. In the second section a linear Kennedy-frontier bounded by the positive axes is assumed. The tendency towards Harrod-neutrality still applies, though intermediate fluctuations are possible. Abandoning the positivity assumption of the Kennedy-frontier we show that there may be no Harrod-neutralitytrend at all. In the concluding section we explain heuristically that the argument presented covers as well the case of a strictly convex Kennedyfrontier.
Zeitschrift für die gesamte Staatswissenschaft / Journal of Institutional and Theoretical Economics © 1971 Mohr Siebeck GmbH & Co. KG