Goodwin’s Growth Cycle Model with the Bhaduri-Marglin Accumulation Function
AbstractThis paper incorporates the Bhaduri-Marglin accumulation function in Goodwin’s growth cycle model. It seems that, a priori, nothing unambiguous can be said about the dynamic behaviour of that extended system, since it depends crucially on two separate factors: (i) the form of the accumulation function; and (ii) the degree of capital heterogeneity.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 40738.
Date of creation: 18 Aug 2012
Date of revision:
Bhaduri-Marglin accumulation function; capital heterogeneity; Goodwin’s growth cycle model; Sraffian theory;
Find related papers by JEL classification:
- B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
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