In this paper we consider the problem of finding an equilibrium in an economy with non-linear constant returns to scale production activities. To find an equilibrium we propose an adjustment process in which…
The problem of computing an equilibrium in an economy with constant returns to scale production technologies is to find prices and activity levels such that no activity makes positive profits and the market…
The material balance equation in a dynamic input-output model incorporating capital hinges very much on its assumption one makes with respect to the kind of capital. In this paper, we mention two different…