Shell, Karl
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Description: Professor of Economics, Cornell University. Includes research, vita, interviews, photos, and teaching materials.
) introduced a macroeconomic theory of in which "technological knowledge" is a non-conventional factor of production. There are increasing returns to scale in all factors (including the non-conventional factor) taken together. Hence purely competitive provision of inventive activity is not possible. Also because of increasing returns, the growth process is history-dependent and permits both explosive growth and contractionary growth.
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| Page title: | Karl Shell |
| Keywords: | sunspot equilibrium overlapping generations economic growth inventive activity bank runs karl shell financial fragility |
| Description: | Professor Karl Shell's web page |
| IP-address: | 64.71.34.73 |
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| NS | Name Server: NS.SITEPROTECT.COM Name Server: NS2.SITEPROTECT.COM |
| WHOIS | Status: ok |
| Date | Creation Date: 01-aug-2000 Expiration Date: 01-aug-2014 |