Second, the results from the econometric estimation prove that infrastructure is a promoter of growth on the medium to long term when using the neoclassical approach.
The source of forced migration is easy to understand using the Neoclassical model, if we assume that physical capital is the land used for subsistence agriculture, which is limited, and we assume a positive population growth rate.
We will refer to this input vector as the neoclassical input mix for q.
The proof of Proposition 5 is immediate: the neoclassical input mix is feasible under the restrictive contract, but, by Proposition 3, violates the first-order condition (13).
The proposition reflects the fact, illustrated in Fig. 2, that the first-order reduction in information costs obtained by moving away from the neoclassical input mix necessarily offsets the resulting, second-order increase in production costs.
Pick g∈G, let (tilde {beta }) denote the neoclassical input mix (see Remark 1) for f ℓ ≡g, let (ddot {g}) denote the composite input function corresponding to g and let (ddot {{{e}}}^{i} (q)) denote the level of composite input required to produce q with (ddot {g}).
Specifically, the ratio of types' efficiency factors, the probability of type ℓ, and the homogeneity factor must all belong to compact subsets of (0,1), and the neoclassical input ratio ((tilde {beta })) and the level of output associated with input vector ((1,tilde {beta })) must belong to compact subsets of (0,∞).
Start using the email input type.
In his first book, Analytical Foundations of Marxian Economic Theory (1981), Roemer sought to reconstruct Marxian economics using the tools of neoclassical economic theory.
Its leading single, Chameleon Queen, illuminates the degradation of love using the regality of a poised neoclassical ballad.
