Instabilità harrodiana e teoria della crescita endogena
AbstractHarrodian Instability and Endogenous Growth (by Giulio Guarini) - ABSTRACT: Theory In this article, I study the harrodian instability in the growth processes with mainstream production functions, analyzing three important approaches: Lucas (1988), Rome (1990), Grossman-Helpman (1991). After describing that harrodian instability is important for the economic growth but it is absent in these models, I build new models with the same mainstream production functions to analyze the convergence process between the warranted growth rate and the natural growth rate when the interest rate changes. Finally, for these models, I write the sraffian system with heterogeneous capital goods and I show that the convergence process can have infinitive states and solutions caused by infinitive states of the relation between interest rate and capital intensity like multiple equilibrium, nonexistence of equilibrium and instability of equilibrium. Keywords: Harrodian Instability, Endogenous Growth Model, Cambridge Capital Controversy
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Bibliographic InfoArticle provided by FrancoAngeli Editore in its journal STUDI ECONOMICI.
Volume (Year): 2007/91 (2007)
Issue (Month): 91 ()
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- Giulio Guarini, 2011. "Harrod's cumulative growth circle," Economics Bulletin, AccessEcon, vol. 31(4), pages 3041-3051.
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