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In this paper, we put forward a neo-Kaleckian model of growth and dsitribution. We introduce two different types of public expenditure: government consumption expenditure and public provision of capital; and we study the effects on equilibrium capacity utilisation and growth. Two different cases...
Persistent link: https://www.econbiz.de/10009371097
theories developed during the thirties are examined in a second section, the first part focusing on Kalecki 1939’s theory based …
Persistent link: https://www.econbiz.de/10009371100
, in the Treatise on Money, and by Kalecki. However, while Keynes and Kalecki develop analyses of short period, Kaldor …
Persistent link: https://www.econbiz.de/10009371102
This paper has the simple objective of exploring the implications of a Kaleckian (heterodox) macroeconomic analysis for the effectiveness of monetary policy, specifically one based on the use of interest rates to target the rate of inflation. The paper begins by setting out the essential...
Persistent link: https://www.econbiz.de/10010701903
a synthesis between Kaldor’s and Kalecki’s theories and that of Schumpeter, might have been possible and that it …
Persistent link: https://www.econbiz.de/10010733744
The monetary theory of Kalecki and Minsky is usually placed within the Post-Keynesian tradition, deriving from the … monetary analysis of John Maynard Keynes. The paper argues that Kalecki and Minsky shared a common inheritance in Swedish and … German monetary theory, rather than the Marshallian tradition. Thus the monetary analysis of Kalecki and Minsky emphasises …
Persistent link: https://www.econbiz.de/10010665073
Kalecki devised a novel method of analysis, which was also used by some of his collaborators.Unfortunately however … present paper is to revisit Kalecki’s applied studies. I will in the first place explain and discuss Kalecki’s outlook and … downswing. The results of have been rather disappointing. Using Kalecki’s approach and methodology, I have verified that it has …
Persistent link: https://www.econbiz.de/10010854288
in 1986. It contains Minsky's assessment of Kalecki's contribution. According to Minsky, the question of Kalecki … is that both Kalecki and Keynes provide elements that are essential components for understanding the behavior of … economies with complex financial structures. This is the measure of Kalecki's greatness. …
Persistent link: https://www.econbiz.de/10010742204
Abstract Keynes and Kalecki both assume that private investment determines (but is not determined by) private savings …; ‘autonomous’ shifts of investment are determined by the state of long-term expectations. For Kalecki, the saving propensity …-run aspects of Kalecki’s fundamental profit equation (1) We argue that the short lag between investment decisions and expenditures …
Persistent link: https://www.econbiz.de/10010709576
This paper compares Kaleckian and Harrodian models of accumulation. The simplicity of the canonical Kaleckian model is appealing but more complex Harrodian specifications are preferable from a behavioral perspective. The local instability of Harrodian-inspired specifications, moreover, offers a...
Persistent link: https://www.econbiz.de/10010287809