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Some comments on the Sraffian supermultiplier approach to growth and distribution
Nikiforos, Michalis - 2018
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
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Some comments on the Sraffian Supermultiplier approach to growth and distribution
Nikiforos, Michalis - In: Journal of post-Keynesian economics : JPKE 41 (2018) 4, pp. 659-675
Persistent link: https://www.econbiz.de/10012171551
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Some Comments on the Sraffian Supermultiplier Approach to Growth and Distribution
Nikiforos, Michalis - 2018
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/10012919034
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Endogenous Cycles in the Sraffian Supermultiplier Model
Araujo, Ricardo; Moreira, Helmar - 2023
In this paper, we examine the presence of limit cycles in the baseline and a non-linear Sraffian supermultiplier model (SSM). We use the propensity to invest as the bifurcation parameter and identify the conditions necessary for the emergence of cycles in the SSM. To accomplish this, we deliver...
Persistent link: https://www.econbiz.de/10014261966
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On the utilization controversy: A theoretical and empirical discussion of the Kaleckian model of growth and distribution
Nikiforos, Michalis - 2012
This paper examines the utilization controversy around the Kaleckian model of growth and distribution. We show that the … Federal Reserve data on capacity utilization, which have been used by both sides of this debate, are the wrong kind of data … rationale, and provide an alternative path toward the endogeneity of the desired utilization at the micro and macro levels …
Persistent link: https://www.econbiz.de/10010318664
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The (normal) rate of capacity utilization at the firm level
Nikiforos, Michalis - 2012
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/10010318665
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On the Desired Rate of Capacity Utilization
Nikiforos, Michalis - Department of Economics, New School for Social Research - 2011
This paper examines the endogeneity (or lack thereof) of the rate of capacity utilization in the long run within the … the adjustment of the desired rate of utilization towards the actual rate on behalf of a cost-minimizing firm, after … examining the factors that determine the utilization of resources. The cost minimizing firm has an incentive to increase the …
Persistent link: https://www.econbiz.de/10011196548
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"On the Utilization Controversy: A Theoretical and Empirical Discussion of the Kaleckian Model of Growth and Distribution"
Nikiforos, Michalis - Levy Economics Institute - 2012
This paper examines the "utilization controversy" around the Kaleckian model of growth and distribution. We show that … the Federal Reserve data on capacity utilization, which have been used by both sides of this debate, are the wrong kind of … rationale, and provide an alternative path toward the endogeneity of the desired utilization at the micro and macro levels …
Persistent link: https://www.econbiz.de/10010627284
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"The (Normal) Rate of Capacity Utilization at the Firm Level"
Nikiforos, Michalis - Levy Economics Institute - 2012
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/10010627288
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Functional finance: A comparison of the evolution of the positions of Hyman Minsky and Abba Lerner
Wray, Larry Randall - 2018
This paper examines the views of Hyman Minsky and Abba Lerner on the functional finance approach to fiscal policy. It argues that the main principles of functional finance were relatively widely held in the immediate postwar period. However, with the rise of the Phillips curve, the return of the...
Persistent link: https://www.econbiz.de/10012142947