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Robinsonian and Kaleckian growth. An update on post-Keynesian growth theories.

Stockhammer, Engelbert (1999) Robinsonian and Kaleckian growth. An update on post-Keynesian growth theories. Department of Economics Working Paper Series, 67. Inst. für Volkswirtschaftstheorie und -politik, WU Vienna University of Economics and Business, Vienna.

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Abstract

The aim of the paper is to give an overview over basic models of Post-Keynesian growth theory. Two major families of growth models are discussed, one developed by Joan Robinson, the other by Michal Kalecki. Both share an independent investment function that depends on income distribution and a savings function that depends on income distribution. The core difference that the Robinsonian model assumes full capacity utilization in the long run, while the Kaleckian model has capacity utilization as an endogenous variable. The characteristics of these models and in particular the effects of changes in the savings propensity and the relation between distribution and growth are highlighted and contrasted. A short run Keynes-Kalecki model is as a benchmark case. (author's abstract)

Item Type: Paper
Keywords: Neokeynesianismus / Wachstumstheorie
Divisions: Departments > Volkswirtschaft
Depositing User: Repository Administrator
Date Deposited: 28 Feb 2002 14:56
Last Modified: 08 Apr 2015 11:37
URI: http://epub.wu.ac.at/id/eprint/186

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