Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Econometrica: May, 1971, Volume 39, Issue 3

Shiftable versus Non-Shiftable Capital: A Synthesis<511:SVNCAS>2.0.CO;2-D
p. 511-529

Martin L. Weitzman

Non-transferable capital is an essential feature of the Fel'dman two-sector growth model. This paper is primarily an answer to the following question. Given that capital is really partially shiftable between its two sectors, when can the Fel'dman model be meaningfully used?

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