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Showing papers on "Capital deepening published in 1970"


Posted Content
01 Jan 1970

77 citations


Journal ArticleDOI
01 Jul 1970

23 citations


Journal ArticleDOI
TL;DR: The economic setting, 71. as mentioned in this paper The human capital model, 73 The factors inhibiting human capital development, 79 The human resource model, 80 Secular trends in the parameters, 80.
Abstract: The economic setting, 71. — The human capital model, 73. — Factors inhibiting human capital development, 79. — Secular trends in the parameters, 80. — Conclusions, 83.

14 citations


Posted ContentDOI
01 Jan 1970

3 citations



Journal ArticleDOI
TL;DR: In this article, the authors demonstrate below the potential effects of varying degrees of depreciation upon the form of an IS curve, and adopt the following commodity-market assumptions: (1) S = S(Y), (2) I = I(i), (3) G = G0, (4) T = T 0, (5) T0 = Go > 0, and (6) I + G = S + T.
Abstract: The purpose of this paper is to isolate an aspect of the conventional deriva tion of the IS schedule which is usually ignored in macroeconomics textbooks. Namely, we attempt to demonstrate below the potential effects of varying degrees of depreciation upon the form of an IS curved1) To accomplish this, we adopt the following commodity-market assumptions: (1) S = S(Y), (2) I = I(i), (3) G = G0, (4) T = T0, (5) T0 = Go > 0, and (6) I + G = S + T. Here, \"S\" is real savings, \"Y\" real income, \"I\" real investment (net), \"i\" the interest rate, \"G\" real government spending, and \"T\" government tax collections (in real terms). \"G0\" and \"T0\" are treated as parameters. Equa tion (6) is the equilibrium condition.

2 citations




Journal ArticleDOI
TL;DR: For example, the authors predicts that the U.S. commitment to full employment will prevent adoption of economic policies sufficiently drastic to correct quickly the rapid price inflation underway since early 1966, which is based on an acceptance of the view that structural changes in the economy-particularly the growing relative importance of spending for government and services at the expense of manufacturing-will make the inflation harder to control.
Abstract: URRENT projections of interest rates tend to C assume that the U. S. commitment to full employment will prevent adoption of economic policies sufficiently drastic to correct quickly the rapid price inflation underway since early 1966. They are based on an acceptance of the view that structural changes in the economy-particularly the growing relative importance of spending for government and services at the expense of manufacturing-will make the inflation harder to control. The reasons are: these sectors are less vulnerable to cyclical influences, and since the end of World War IL mild recessions have been the principal forces moderating the upward trend of prices; and they have less potential than manufacturing for increases in productivity needed to offset the seemingly inevitable uptrend in wages if price stability is to be attained. These forecasts generally anticipate that over the next few years the economy will persistently tend towards undesirably rapid price increases. Forecasters believe that monetary policy will be frequently tight, and that interest rates will be high (relative to the levels, prevailing before 1966). On the other hand they expect price inflation to slow somewhat from the present pace (the annual rate was over 6 per cent in the first quarter of 1970), and interest rates to move somewhat lower over the next several months and average below present levels during the next few years. From the standpoint of the capital markets, it is