A Brief Reminder on Steady-State

International Journal of Economics and Research, Vol. 7, No. 4, 18-21, 2016

4 Pages Posted: 22 Sep 2016

See all articles by Merter Mert

Merter Mert

Department of Economics, AHBV University

Date Written: 2016

Abstract

This study is only a short reminder which emphasizes some important characteristics of steady-state. According to the study, since constant returns to scale conditions imply full capacity or full employment and it is compatible with steady-state, then, steady-state conditions indicate full capacity or full employment. Besides, since Harrod-neutral technological progress is compatible with steady-state conditions, then, Harrod-neutral technological progress guarantees full employment. The study proposes that; these characteristics of steady-state should not be neglected during economic analysis, in order to be consistent with the concepts of economics.

Keywords: Steady-state, constant returns to scale, full employment

JEL Classification: O40, 049

Suggested Citation

Mert, Merter, A Brief Reminder on Steady-State (2016). International Journal of Economics and Research, Vol. 7, No. 4, 18-21, 2016. Available at SSRN: https://ssrn.com/abstract=2841016

Merter Mert (Contact Author)

Department of Economics, AHBV University ( email )

Ankara, 06500
Turkey

HOME PAGE: http://www.mertermert.org

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