STEINDLIAN MODELS OF GROWTH AND STAGNATION
Following an analysis of the relation between a standard Steindlian model of stagnation and Steindl's own analysis, we modify the standard model by introducing endogenous changes in the mark-up and a reformulation of the investment function. These extensions, which address significant weaknesses of the standard model, find support in Steindl's writing and leave intact some of Steindl's key results. In a further extension, we add a labour market and analyse the stabilizing influence of a Marxian reserve-army mechanism. The implications of the extended model for the effects of increased oligopolization are largely in line with Steindl's predictions. Copyright © 2006 The Authors; Journal compilation © 2006 Blackwell Publishing Ltd.
Year of publication: |
2006
|
---|---|
Authors: | Flaschel, Peter ; Skott, Peter |
Published in: |
Metroeconomica. - Wiley Blackwell, ISSN 0026-1386. - Vol. 57.2006, 3, p. 303-338
|
Publisher: |
Wiley Blackwell |
Saved in:
freely available
Saved in favorites
Similar items by person
-
Prosperity and Stagnation in Capitalist Economics
Asada, Toichiro, (2005)
-
Steindlian Models of Growth and Stagnation
Skott, Peter, (2004)
-
Prosperity and Stagnation in Capitalist Economies
Asada, Toichiro, (2005)
- More ...