Chapter

Steady States

John Hicks

in Capital and Time

Published in print October 1987 | ISBN: 9780198772866
Published online November 2003 | e-ISBN: 9780191596414 | DOI: http://dx.doi.org/10.1093/0198772866.003.0006
 Steady States

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This chapter examines the properties of steady states. It is shown that most of the familiar properties remain valid in the present model. The chapter focuses on the usual kind of steady state — defined by the condition that the composition of the capital stock, its proportional division into various categories — remains unchanged over time.

Keywords: labour; capital stock; efficiency curves; steady state

Chapter.  5265 words.  Illustrated.

Subjects: Macroeconomics and Monetary Economics

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