Towards Applied Disequilibrium Growth Theory: Vii Intensive Form and Steady State Calculation in the Case of Substitution

University of Technology Sydney Finance, Economics Working Paper No. 99

41 Pages Posted: 6 Feb 2006

See all articles by Carl Chiarella

Carl Chiarella

University of Technology, Sydney - UTS Business School, Finance Discipline Group

Peter Flaschel

Bielefeld University - Department of Business Administration and Economics

Willi Semmler

The New School - Department of Economics; Universitaet Bielefeld; IIASA

Date Written: December 1999

Abstract

In this paper we consider the applied structural model of diequilibrium growth that we introduced in a previous paper. In particular we express the model in terms of intensive form variables which turn out to be governed by a set of 39D dynamic equations. We consider the model from the perspective of national accounts and also determine and analyze the model's steady state. The model allows for smooth input and output substitution (via a neoclassical production function) between its three inputs (capital, imported commodities and labor) and two outputs (domestically traded goods and exported commodities).

Suggested Citation

Chiarella, Carl and Flaschel, Peter and Semmler, Willi, Towards Applied Disequilibrium Growth Theory: Vii Intensive Form and Steady State Calculation in the Case of Substitution (December 1999). University of Technology Sydney Finance, Economics Working Paper No. 99. Available at SSRN: https://ssrn.com/abstract=880337 or http://dx.doi.org/10.2139/ssrn.880337

Carl Chiarella (Contact Author)

University of Technology, Sydney - UTS Business School, Finance Discipline Group ( email )

PO Box 123
Broadway, NSW 2007
Australia
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HOME PAGE: http://www.business.uts.edu.au/finance/

Peter Flaschel

Bielefeld University - Department of Business Administration and Economics ( email )

P.O. Box 100131
D-33501 Bielefeld, NRW 33501
Germany

Willi Semmler

The New School - Department of Economics ( email )

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New York, NY 10003
United States

HOME PAGE: http://www.newschool.edu/nssr/faculty/?id=4e54-6b79-4e41-3d3d

Universitaet Bielefeld ( email )

Universit├Ątsstra├če 25
Bielefeld, NRW
Germany

IIASA ( email )

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Laxenburg/Austria, A-2361
Austria

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