. Lavoie (1995) has proposed a Kaleckian ?Minsky-Steindl-model? of distribution and growth, incorporating the effects debt and … debt services have on short and long run capital accumulation. This attempt, however, can be extended because neither has … effects of debt and debt services are explicitly introduced, the effects of interest rate variations on the short and the long …

perspective. This is shown by means of examining the effect of increasing capital accumulation on the debt-capital ratio of the … accumulation may be associated with a falling (rising) debt-capital ratio for the economy as a whole and hence with the 'paradox of … debt'. Therefore, the treatment of the rate of interest as an exogenous macroeconomic distribution parameter in Post …

by the ratio of debt service to tax receipts and expected fiscal deficits. Moreover, there is evidence to suggest that …

perspective. This is shown by means of examining the effect of increasing capital accumulation on the debt-capital ratio of the … accumulation may be associated with a falling (rising) debt-capital ratio for the economy as a whole and hence with the ‘paradox of … debt’. Therefore, the treatment of the rate of interest as an exogenous macroeconomic distribution parameter in Post …