From: Ian Wright (iwright@GMAIL.COM)
Date: Tue Mar 08 2005 - 13:08:55 EST
Paul and Ajit I have an initial question for clarification. I thought that the basic Sraffian price equation (this from memory, so may be wrong): Ap(1+r) + aw = p (A = matrix of io coefficients, p = price vector r = scalar profit, a = labour vector, w = scalar wage) expresses wages in terms of a price scalar, so that the net product is split according to nominal (price) terms, not physical terms. In your paper, you have the real wage as a vector of commodities. What am I missing? Thanks, -Ian.
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