Growth, instability and cycles: Harrodian and Kaleckian models of accumulation and income distribution

This paper compares Kaleckian and Harrodian models of accumulation. The sim- plicity 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 unified understanding of both trend and cycles. JEL Categories: E12, E32, O41

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Year of publication:	2008-08
Authors:	Skott, Peter
Institutions:	Department of Economics, University of Massachusetts-Amherst
Subject:	Kalecki \| Harrod \| Kaldor \| Robinson \| Steindl \| investment function \| sta- bility \| growth cycle \| reserve army \| multiple equilibria

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Extent:	application/pdf
Series:	UMASS Amherst Economics Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005702927