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Growth, instability and cycles: Harrodian and Kaleckian models of accumulation and income distribution Author info | Abstract | Publisher info | Download info | Related research | Statistics Peter Skott () (University of Massachusetts, Amherst)
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This paper compares Kaleckian and Harrodian models of accumulation. The sim- plicity of the canonical Kaleckian model is appealing but more complex Harrodian specifications are preferable from a behavioral perspective. The local instability of Harrodian-inspired specifications, moreover, offers a unified understanding of both trend and cycles. JEL Categories: E12, E32, O41
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Paper provided by University of Massachusetts Amherst, Department of Economics in its series Working Papers with number
2008-12.
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Date of creation: Aug 2008Date of revision:
Handle: RePEc:ums:papers:2008-12Contact details of provider: Postal: Thompson Hall, Amherst, MA 01003 Phone: (413)545-2590 Fax: (413)545-2921 Email: Web page: http://www.umass.edu/economics More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Peter Skott).
Keywords: Kalecki ; Harrod ; Kaldor ; Robinson ; Steindl ; investment function ; sta- bility ; growth cycle ; reserve army ; multiple equilibria. ; Other versions of this item:
This paper has been announced in the following NEP Reports :
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Peter Skott, 2008.
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Soon Ryoo, 2009.
"Long waves and short cycles in a model of endogenous financial fragility ,"
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2009-03, University of Massachusetts Amherst, Department of Economics.
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Peter Skott, 2008.
"Theoretical and empirical shortcomings of the Kaleckian investment function ,"
Working Papers
2008-11, University of Massachusetts Amherst, Department of Economics.
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Eckhard Hein & Marc Lavoie & Till van Treeck, 2008.
"Some instability puzzles in Kaleckian models of growth and distribution: A critical survey ,"
IMK Working Paper
19-2008, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
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