Full Industry Equilibrium - A Theory of the Industrial Long Run

This original book develops a systematic zero-net-profit comparative statics theory to shed new light on the microeconomics of industry equilibrium.

List of contents

Preface; Introduction; 1. Taking seriously the tendency to zero net profits; 2. An isolated industry; 3. Multiproduct firms; 4. Interdependent industries; 5. Industry-level input use. Some aftershocks from capital theory; 6. The 'autonomous' components of input prices; 7. The effects of taxation; 8. Productivity increase; 9. Full industry equilibrium in retrospect; 10. Conclusion; References; Index.

About the author

Arrigo Opocher is Full Professor of Economics at the University of Padua. He has published in leading economics journals on the topics of economic theory and its history and has written books on long-run growth and trade theory. He is co-editor of the journal Metroeconomica.Ian Steedman is Emeritus Professor of Economics at Manchester Metropolitan University. He is the author or editor of fourteen books and over 140 articles. He has also undertaken editorial work for the Cambridge Journal of Economics, the European Journal of the History of Economic Thought and Metroeconomica.

Summary

Written for academic researchers and graduate students, this ambitious and highly original book shows how work from two disparate traditions, the marginalist long-run theory of the firm and Sraffian theory, can be used to build a framework that sheds new light on the microeconomics of industry equilibrium.

Product details

• Authors: Arrigo Opocher, Arrigo (Universit... Degli Studi DI Padov Opocher, Arrigo (Universita Degli Studi DI Padova Opocher, Arrigo Steedman Opocher, Opocher Arrigo, Ian Steedman, Steedman Ian
• Publisher: Cambridge University Press ELT
• Languages: English
• Product format: Hardback
• Released: 31.05.2015
• EAN: 9781107097797
• ISBN: 978-1-107-09779-7
• No. of pages: 232
• Subjects: Education and learning > Adult education/adult education classes; Social sciences, law, business > Business > Miscellaneous; BUSINESS & ECONOMICS / Industries / General, BUSINESS & ECONOMICS / Economics / Microeconomics, Economic theory & philosophy, Microeconomics, Economic theory and philosophy, Industry and industrial studies