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The reflections in this article stem from Andreatta’s 1958 analysis on Income distribution and capital accumulation, in the form of a stylized interpretation of his thought as a political economist. His theoretical analyses are reinterpreted with particular attention to the effects of...
Persistent link: https://www.econbiz.de/10010571183
The reflections in this article stem from Andreatta’s 1958 analysis on Income distribution and capital accumulation, in the form of a stylized interpretation of his thought as a political economist. His theoretical analyses are reinterpreted with particular attention to the effects of...
Persistent link: https://www.econbiz.de/10010786833
We provide two ways to reconcile small values of the intertemporal elasticity of substitution (IES) that range between 0.35 and 0.5 with empirical evidence that the IES is large. This is done using a model in which all agents have identical preferences and the same access to asset markets. We...
Persistent link: https://www.econbiz.de/10009318195
endogenous economic growth. In the 1st part of the paper the basics of the MWR method are described. Attention is mainly … part of the paper is devoted to the setup of a model of endogenous growth with human capital accumulation and the … of the problem which eliminates the growth in variables is then presented and the MWR method is used to solve the model …
Persistent link: https://www.econbiz.de/10005407729
Post Keynesian (PK) growth models typically fail to model unemployment. That shows up in the absence of any equilibrium … condition requiring the growth of employment equal effective labor supply growth. Consequently, the models can have an imploding … paper applies the concept to several different PK growth models. In the Harrod, super-multiplier, Cambridge, and neo …
Persistent link: https://www.econbiz.de/10011891349
Post Keynesian (PK) growth models typically fail to model unemployment. That shows up in the absence of any equilibrium … condition requiring the growth of employment equal effective labor supply growth. Consequently, the models can have an imploding … paper applies the concept to several different PK growth models. In the Harrod, super-multiplier, Cambridge, and neo …
Persistent link: https://www.econbiz.de/10011926923
This paper deals with the influence of different types of government expenditure on growth. It widens that proposed by … conditions different types of government expenditure are beneficial or detrimental for economic growth, comparing some results … growth traps. …
Persistent link: https://www.econbiz.de/10005042723
of a non-linear feedback of the growth rate on to the income elasticity of demand for exports. The result is a model that …, under certain conditions, exhibits chaotic switches between growth eras. Such dynamics are in keeping with the view of the … growth process that emerges from the Marx-Myrdal-Kaldor tradition. …
Persistent link: https://www.econbiz.de/10005698457
reconsideration of the post-Keynesian ThirlwallâÂÂs approach to growth in open economy. We cast doubt on the Thirlwall idea aimed at …, there is less cyclical instability in the open economy than in the closed one where chaotic instability prevails. Dynamics … in our model exhibits a limit cycle. Finally, the model shows that the possibility of an export-led growth strictly …
Persistent link: https://www.econbiz.de/10005120831
disequilibria, which let appear endogenous self-sustained fluctuations, around a long-run path. The long-run rate of growth and the …
Persistent link: https://www.econbiz.de/10008740102