With this inquiry we seek to develop a disaggregated version of the post-Keynesian approach to economic growth, by showing that indeed it can be treated as a particular case of the Pasinettian model of structural change and economic expansion. By relying upon vertical integration becomes...

This paper seeks to establish that a Structural Economic Dynamic (SED) approach toward understanding technological gaps offers a superior method relative to the Import Substitution Strategy (ISS). It is argued that the ISS approach fails to account for the role of demand and hence, the...

In this paper the existence and stability of equilibriums in an evolutionary game theory model of the labour market is studied by using the Lyapunov method. The model displays multiple equilibriums and it is shown that the Nash equilibriums of the static game are evolutionary stable equilibrium...

With this inquiry, we seek to develop a multi-sectoral version of the static Harrod foreign trade multiplier, by showing that it can be derived from an extended version of the Pasinettian model of structural change and international trade. This new version highlights the connections between the...

This paper presents a basic model by which a representative agent chooses how to allocate his savings optimally between money of legal origin and dirty money. It analyses the welfare of such an economy as a result of money laundering, as well as the conditions to reduce the incentives to...

In this paper the efficiency of the confiscation as a tool against organized crime is studied by using a general equilibrium model that considers the existence of a representative criminal organization that generates profits that need to be laundered. The main result of the paper shows that if...

This paper contributes to the literature on economic growth by seeking to join several lines of research on structural factors in a more fully specified framework, on the one hand, and by making this more inclusive supply side to interact with demand factors in a model of export-led growth, on...

This paper derives a balance-of-payments equilibrium growth rate analogous to Thirlwall's Law from a Pasinettian multi-sector macrodynamic framework. The resulting formula, which we call the Multi-Sectoral Thirlwall's Law, asserts that a country's growth rate of per capita income is directly...

In this paper Pasinetti’s model of structural economic dynamics (1981) is extended to consider international economic relations. Conditions for full employment, full expenditure of income and equilibrium of the trade balance are established for an open economy that requires capital goods to...