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dc.contributor.authorBloch, Harry
dc.contributor.authorCourvisanos, Jerry
dc.contributor.authorMangano, Maria
dc.contributor.editorLynne Chester, Michael Johnson and Peter Kriesler
dc.date.accessioned2017-01-30T15:13:41Z
dc.date.available2017-01-30T15:13:41Z
dc.date.created2009-01-11T18:01:37Z
dc.date.issued2008
dc.identifier.citationBloch, Harry and Courvisanos, Jerry and Mangano, Maria. 2008. The impact of technical change and profit on investment in Australian manufacturing, in Chester, L. and Johnson, M. and Kriesler, P. (ed), Contemporary Issues for Heterodox Economics - Proceedings. (Seventh Australian Society of Heterodox Economists Conference, Dec 8 2008), pp. 1-18. The University of New South Wales, Sydney, Australia: Society of Heterodox Economists, The University of New South Wales.
dc.identifier.urihttp://hdl.handle.net/20.500.11937/44370
dc.description.abstract

This paper combines Salter's analysis of capital-embodied technical change with Kalecki's analysis of financing investment from retained profits to provide a post-Keynesian model of investment with innovation, which is applied to data from Australian manufacturing industries. In the estimated model, profit is used as a measure of the ability to invest, and the rate of labour saving technical change embodied in new equipment (i.e. process innovation) reveals the inducement to invest. These two factors combine to explain the accumulation process and its link to technical progress.

dc.publisherSociety of Heterodox Economists, The University of New South Wales
dc.subjectKalecki
dc.subjectembodied technical change
dc.subjectvintage capital
dc.subjectSalter
dc.subjectinvestment
dc.titleThe impact of technical change and profit on investment in Australian manufacturing
dc.typeConference Paper
dcterms.source.startPage1
dcterms.source.endPage18
dcterms.source.titleContemporary Issues for Heterodox Economics - Proceedings
dcterms.source.seriesContemporary Issues for Heterodox Economics - Proceedings
dcterms.source.isbn9780733427183
dcterms.source.conferenceSeventh Australian Society of Heterodox Economists Conference
dcterms.source.conference-start-dateDec 8 2008
dcterms.source.conferencelocationThe University of New South Wales, Sydney, Australia
dcterms.source.placeSydney, Australia
curtin.note

The web site of The Australian Society of Heterodox Economists is at: <a href="http://www.economics.unsw.edu.au/nps/servlet/portalservice?GI_ID=System.LoggedOutInheritableArea&maxWnd=T_Heterodox_home">http://www.economics.unsw.edu.au/nps/servlet/portalservice?GI_ID=System.LoggedOutInheritableArea&maxWnd=T_Heterodox_home</a>

curtin.accessStatusOpen access
curtin.facultyCurtin Business School
curtin.facultySchool of Economics and Finance


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