We propose a new criticism of Frank Hahn’s attempt to prove that the surplus approach constitutes no more than a ‘special case’ of the neoclassical model of intertemporal general equilibrium. In particular, we show that Hahn’s ‘special case’ is vitiated by the paradox of determining the past as a function of the future. In order to make the communication between schools of thought easier, we present our criticism of Hahn within a mathematical framework drawn from the well-known Solow growth model.

On the Impossibility of Reducing the Surplus Approach to a Neo-Classical Special Case. A criticism of Hahn in a ”Solowian” context

BRANCACCIO E
2010-01-01

Abstract

We propose a new criticism of Frank Hahn’s attempt to prove that the surplus approach constitutes no more than a ‘special case’ of the neoclassical model of intertemporal general equilibrium. In particular, we show that Hahn’s ‘special case’ is vitiated by the paradox of determining the past as a function of the future. In order to make the communication between schools of thought easier, we present our criticism of Hahn within a mathematical framework drawn from the well-known Solow growth model.
2010
Intertemporal general equilibrium, Surplus approach, comparative theory of relative prices and distribution
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/20.500.12070/5538
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