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Critical notes on some recent Neo-Kaleckian contributions on capacity utilization

Author

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  • Santiago José Gahn

Abstract

Within the non-mainstream growth literature, the Neo-Kaleckian model is the only one that presents an endogenous capacity utilization in the long run. After systematizing the debate around recent contributions, presenting the baseline and extensions of the Neo-Kaleckian model and providing some notes on the normal rate of capacity utilization, I critically assess three recent alternatives that try to justify endogenous utilization in Neo-Kaleckian models. All these contributions present different theoretical and empirical shortcomings that should be addressed in order to substantiate their claims.

Suggested Citation

  • Santiago José Gahn, 2023. "Critical notes on some recent Neo-Kaleckian contributions on capacity utilization," Review of Keynesian Economics, Edward Elgar Publishing, vol. 11(3), pages 261-289, July.
    • Handle: RePEc:elg:rokejn:v:11:y:2023:i:3:p261-289
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    Citations

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    Cited by:

    1. Graham White, 2023. "Autonomous demand, expectations and calibration: simulating demand led growth," Working Papers 2023-08, University of Sydney, School of Economics.

    More about this item

    Keywords

    capacity utilization; growth; Neo-Kaleckian model; Harrodian instabilit;
    All these keywords.

    JEL classification:

    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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