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Generalized Findlay-Grubert Theorem

Jitendralal Borkakoti

Middlesex Polytechnic

This generalization allows the relative price to vary and explicitly considers Hicks-, Harrod-, and Solow-neutrality. Under certain conditions, the Harrod-neutral and the Solow-neutral shifts are equivalent to the Hicks factor-saving shift. If Hicks-Harrod-Solow neutral or the Hicks factor-saving improvement occurs in one of the two sectors, then the relative price of that good falls, and the level of output of that good increases. However, the level of output of the other good remains constant if Hicks-Harrod-Solow-neutral progress occurs, and decreases or increases according to whether the Hicks x-saving or x-using technological progress occurs in the x-intensive sector.

DOI

10.2307/1885483

Volume

95 (4)

Pages

587

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