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New Issues in the Theory of Investment: Modernization and Persistence Effects by Marcel Savioz (Paperback, 1992)

About this product

About this product

Product Information

This monograph starts with a survey of the One-Relative-Price (Q value) theory of investment and then explores the richness of the Many-Relative-Price theory of investment. A tractable model of modernization investment is presented which recognizes that in modern economies more than half of the gross investment consists of replacement investment, and that the main motive for replacement investment is to modernize the capital stock. This model predicts that an activation of investment by fiscal policy is only possible at the cost of causing an ageing of capital stock. Secondly a model is presented in which initial over - or underinvestment causes further over - or underinvestment and thus has a persistent effect on the structure of the capital stock. This model explains why in centrally planned economies a rapid and persistently extensive growth was possible and had to be followed by stagnation.

Product Identifiers

Publisher
Springer-Verlag Berlin and Heidelberg Gmbh & Co. Kg
ISBN-13
9783540549796
eBay Product ID (ePID)
95350932

Product Key Features

Author
Marcel Savioz
Publication Name
New Issues in the Theory of Investment: Modernization and Persistence Effects
Format
Paperback
Language
English
Subject
Economics, Government
Publication Year
1992
Type
Textbook
Number of Pages
216 Pages

Dimensions

Item Height
242mm
Item Width
170mm
Item Weight
412g

Additional Product Features

Title_Author
Marcel Savioz
Series Title
Studies in Contemporary Economics
Country/Region of Manufacture
Germany

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