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(Kaleckian, Kaldorian, Robinsonian, etc.). Second, and related to the first, the SSM model is a model of the long run and has to … of the rate of utilization. Fourth, the SSM model is a peculiar way to reach what Garegnani called the "Second Keynesian …
Persistent link: https://www.econbiz.de/10011856786
desired rate of utilization becomes endogenous. -- Kaleckian ; Long Run ; Economies of Scale ; Utilization …This paper examines the endogeneity (or lack thereof) of the rate of capacity utilization in the long run at the firm … level. We provide economic justification for the adjustment of the desired rate of utilization toward the actual rate on …
Persistent link: https://www.econbiz.de/10009665519
This paper examines the endogeneity (or lack thereof) of the rate of capacity utilization in the long run at the firm … level. We provide economic justification for the adjustment of the desired rate of utilization toward the actual rate on … behalf of a cost-minimizing firm after examining the factors that determine the utilization of resources. The cost …
Persistent link: https://www.econbiz.de/10013097456
Persistent link: https://www.econbiz.de/10012171551
In this Introduction, we discuss the main themes of post-Keynesian economics, and the manner in which they are dealt with by the contributors to the Handbook. In particular, the important aspects of post-Keynesian analysis are identified, and their main critiques of mainstream theory are...
Persistent link: https://www.econbiz.de/10014040808
This paper presents a methodological discussion of two recent “endogeneity” critiques of the Kaleckian model and the … directions for future work within the Kaleckian framework …
Persistent link: https://www.econbiz.de/10012966834
Kalecki's profit theory has always been popular among heterodox economist as an alternative approach to solve the paradox of monetary profits. In the present paper his formula ‘The workers spend what they get, the capitalists get what they spend' is scrutinized for its logical and factual...
Persistent link: https://www.econbiz.de/10013037979
Hansen's theory of secular stagnation has been resurrected in mainstream discourse today through economists such as Lawrence Summers and Paul Krugman. The modern theory of stagnation believes that excess savings – brought about due to slowing population growth and the savings habits of...
Persistent link: https://www.econbiz.de/10012911580
The purpose of this paper is to explore the similarities between Post Keynesian Economics (PKE) and Regulation Theory (RT). It is argued that, despite important differences between these traditions, the analytical contents of PKE and RT display broad similarities with respect to their treatments...
Persistent link: https://www.econbiz.de/10013138329
The first part of this review of the Pasinetti's (2010) book on the Keynesian school summarizes the reasons why the Kyenesian theory was an “unaccomplished scientific revolution”. As explained by Pasinetti, Keynes neglected some essential building blocks of his theoretical construction, and...
Persistent link: https://www.econbiz.de/10013068234