Capital gains and net national product in open economies
Article Abstract:
The capital gains and net national product in world economies are analyzed. It is argued that if the world economy follows an egalitarian path, then the aggregate capital gains are positive and equivalent to interest rates that tend to decrease. Thus, countries must accumulate national wealth to ensure that consumption remains constant. It is also shown that a country's share of worldwide sustainable consumption equals its share of worldwide wealth.
Publication Name: The Journal of Public Economics
Subject: Government
ISSN: 0047-2727
Year: 1996
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Economies of scale and self-financing rules with non-competitive factor markets
Article Abstract:
Pricing output at marginal cost results in earnings with cost functions that are related to the degree of local scale economies. This result occurs despite an increasing factor supply curve in the scale economies, an indication that marginal-cost pricing can be profitable despite a constant return to scale. The applicability of the derived conclusions is demonstrated by a number of court rulings on land acquisitions for highways.
Publication Name: The Journal of Public Economics
Subject: Government
ISSN: 0047-2727
Year: 1999
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Price Ceilings in Competitive Markets with Variable Quality
Article Abstract:
Price ceilings are examined for a competitive market in which product quality is variable. Market clearing is accomplished by an equilibrium price. The equilibrium price rises because of the demand gap resulting from the ceiling.
Publication Name: The Journal of Public Economics
Subject: Government
ISSN: 0047-2727
Year: 1983
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