The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
From: Increasing returns and business cycles in a family of Goodwinian models with Leontiev technology
Variable | Expression |
---|---|
Net product | q |
Fixed production assets | k |
Capital-output ratio | s = k/q |
Employment | l |
Output per worker | a = q/l |
Labour force | n = n0eβt, β ≥ 0 |
Wage | w |
Total wage | wl |
Relative wage (unit value of labour power) | u = w/a = wl/q |
Rate of surplus value | m′ = (1–u)/u |
Profit | M = q − wl = (1 − u)q |
Profit rate | R = (1 − u)/s |
Capital accumulation rate | z |