Serrano, Franklin; Freitas, Fabio - In: European Journal of Economics and Economic Policies: … 14 (2017) 1, pp. 70-91
This paper aims to show that the Sraffian supermultiplier model provides an alternative closure for the heterodox analysis of economic growth. The new closure follows from the assumption of the existence of autonomous non-capacity-creating expenditures, which implies that the ratio of the...