On the treatment of jointly utilized fixed capital in the Sraffian framework and in the theory of dynamic input-output models
نویسنده
چکیده
This paper is concerned with a comparison of the treatment of fixed capital in some multisectoral models. First the dynamic Leontief model is investigated. Scrutiny shows that this model suffers from conceptual misconceptions which are due to restrictive assumptions concerning full capacity production and transferability of capital in place and due to the definition of technical coefficients. Whereas most input-output models are based on the assumption of infinite life of fixed capital the Sraffian concept is to treat used fixed capital items as „intermediate“ goods which appear as joint products until they are worn out. In order to compare that approach with some input-output models an application of the concept of a „plant“ is provided. Finally it is demonstrated that Leontief ́s model as well as some recent generalisations are special cases of a Sraffa von Neumann type of model.
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