Sasaki, Hiroaki - In: Structural Change and Economic Dynamics 23 (2012) 3, pp. 231-244
This paper presents a Kaleckian growth model in which (i) the rate of capacity utilization, the profit share, and the rate of employment are adjusted in the medium run, and (ii) the normal rate of capacity utilization and the expected rate of growth are adjusted in the long run. Both the...