In this paper, a standard short-run Kaleckian macromodel is developed. The stability of equilibrium is studied and some comparative static exercises are made. The paper then takes into account different specifications for an endogenous propensity to invest and systematically analyze the...

In this paper the differences between the principle of effective demand of Keynes and Kalecki are analyzed, focusing on Kalecki's less well known version. The paper considers, in the first place, the theory of prices and the theory of distribution. Then it deals with the theory of investment,...