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  1. 1 Kozgazdasagi Szemle (Economic Review)

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  1. 1 Brody A.

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  1. 1 2004

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The effect of term of production

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Brody A.
Kozgazdasagi Szemle (Economic Review)
|
2004
|
vol. 51
|
issue 1
66-76
EN
Product life - term of production, or period of engagement or return, in other words - influences economic growth and the length of its possible cycles. The appropriate way of describing this effect is with the input-output model and various versions of it, which also allow calculations to be made. The 'elliptical production paths' of the Austrian school and their duration and variations become clear and measurable. All this may lead to an extension of the concept and interpretation of equilibrium.
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