General Equilibrium of Steady States

  • C. C. von Weizsäcker
Part of the Lecture Notes in Operations Research and Mathematical Systems book series (LNE, volume 54)


So far we have not introduced any consideration which would allow us to decide which point on the wage interest curve is being chosen by any given economy growing in a steady state. To solve this open problem we have to introduce the households in the economy and their intertemporal decisions. We first consider a single household whose lifetime extends from some periode to to some period to+λ. We assume perfect certainty and we assume that the wealth of the household is zero at to as well as to+λ.


Interest Rate Wage Rate Excess Demand Consumption Good Bond Market 
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  1. J. E. Meade, Life-Cycle Savings, Inheritance and Economic Growth, RES, Vol. 33, p. 61–78Google Scholar
  2. J. Tobin, Life-Cycle Saving and Balanced Growth, in Ten Economic Studies in the Tradition of Irving Fisher, New York-London-Sidney 1967, p. 231–256Google Scholar
  3. H. G. Nutzinger und E. Wolfstetter, Überlegungen zur Marxschen Ökonomie, Manuskript,Heidelberg 1970Google Scholar

Copyright information

© Springer-Verlag Berlin · Heidelberg 1971

Authors and Affiliations

  • C. C. von Weizsäcker
    • 1
  1. 1.Albert Weber-Institut für Sozial- und StaatswissenschaftenUniversität HeidelbergDeutschland

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