Convergence Towards the Normal Rate of Capacity Utilization in Neo‐Kaleckian Models: The Role of Non‐Capacity Creating Autonomous Expenditures
Convergence Towards the Normal Rate of Capacity Utilization in Neo‐Kaleckian Models: The Role of Non‐Capacity Creating Autonomous Expenditures
复制标题
新卡莱克模型中向正常产能利用率的收敛:非产能创造自主支出的作用
DOI:
10.1111/meca.12109
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发表时间:
2016
期刊:
影响因子:
--
通讯作者:
M. Lavoie
中科院分区:
文献类型:
--
作者:
M. Lavoie
Neo-Kaleckian models of growth and distribution have been highly popular among heterodox economists. Two drawbacks of these models have, however, been underlined in the literature: first, the models do not usually converge to their normal rate of capacity utilization; second, the models do not include the Harrodian principle of dynamic instability. Some Sraffian economists have long been arguing that the presence of non-capacity creating autonomous expenditures provides a mechanism that brings back the model to normal rates of capacity utilization, while safeguarding the main Keynesian message and without going back to classical conclusions. The present article provides a very simple proof of this, showing within a neo-Kaleckian model that the Harrodian principle of dynamic instability gets tamed by the presence of autonomous consumer expenditures.