Faculty of Economics and Business Administration Publications Database

Reswitching as a Cause of Instability of Intertemporal Equilibrium

Volume: 56
Number: 4
Pages: 438 - 476
ISSN-Print: 0026-1386
Link External Source: Online Version
Year: 2005
Abstract: It is generally recognized that the paradoxes of capital, of which reswitching is the most striking example, are a reason to question the existence of aggregate production functions. It is here shown that they affect intertemporal general equilibrium as well as causes of instabilities.