We introduce in a post-Keynesian/Kaleckian model of growth and distribution a constraint on firms’ investment induced by increasing adjustment costs and/or limited financial resources. Whereas in the short run limiting firms’ investment reduces capacity utilization and capital accumulation,...

This paper proposes a simple prototype model that describes the complex dynamics of a sophisticated monetary economy. The interaction between the current and intertemporal financial constraints of economic units brings about irregular fluctuations at the micro and macro levels. By means of...

This paper aims at suggesting a simple prototype model that describes the complex dynamics of a sophisticated monetary economy. The interaction between the current and intertemporal financial constraints of economic units brings about irregular fluctuations at the micro and macro levels. By...