期刊名称：Discussion Papers in Economics / Manchester Metropolitan University
出版年度：2003
卷号：2003
出版社：Manchester Metropolitan University
摘要：In a two-sector, constant-returns neoclassical model of production it is entirely arbitrary to take the depreciation rate of capital to be the same in both sectors; ex hypothesi capital is being used differently in the two sectors! It is shown that with differential depreciation rates factor-intensity-reversal and a non-monotonic price ratio can arise even when both sectors have a CES technology of the same elasticity of substitution. Moreover, efficient allocations of resources do not involve mutual tangency points between consumption-good and capital-good isoquants; though they do involve a modified form of mutual tangency points. The Rybczynski theorem is unaffected with respect to consumption and gross investment outputs but there is more to be said concerning the volume of net investment. When there is both a homogeneous capital good and two consumption commodities, similar results (concerning factor-intensity-reversal, non-monotonic prices and inequality of physical marginal product ratios) are found to hold good in terms of the two consumption commodities.
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