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Robinsonian and Kaleckian Growth. An Update on Post-Keynesian Growth Theories

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Author Info
Engelbert Stockhammer () (Department of Economics, Vienna University of Economics & B.A.)

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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.

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File URL: http://www.wu-wien.ac.at/inst/vw1/papers/wu-wp67.pdf
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Publisher Info
Paper provided by Vienna University of Economics and B.A., Department of Economics in its series Department of Economics Working Papers with number wuwp067.

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Date of creation: Oct 1999
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Handle: RePEc:wiw:wiwwuw:wuwp067

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Postal: Augasse 2-6, 1090 Vienna, Austria
Web page: http://www.wu-wien.ac.at/portal/institute/departments/vwl

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  1. Gerlinde Fellner & Matthias Sutter, 2008. "Causes, consequences, and cures of myopic loss aversion - An experimental investigation," Department of Economics Working Papers wuwp116, Vienna University of Economics and B.A., Department of Economics. [Downloadable!]
    Other versions:
  2. Engelbert Stockhammer, 1999. "The Slowdown of Accumulation and the Rise of European Unemployment," Working Papers geewp08, Vienna University of Economics and B.A. Research Group: Growth and Employment in Europe: Sustainability and Competitiveness. [Downloadable!]
  3. Engelbert Stockhammer, 2004. "Is there an equilibrium rate of unemployment in the long run?," Review of Political Economy, Taylor and Francis Journals, vol. 16(1), pages 59-77, January. [Downloadable!] (restricted)
    Other versions:
  4. Pasquale Commendatore & Ingrid Kubin & Carmelo Petraglia, 2007. "Footloose capital and productive public services," Department of Economics Working Papers wuwp111, Vienna University of Economics and B.A., Department of Economics. [Downloadable!]
  5. Aleksandra Riedl & Silvia Rocha-Akis, 2007. "Testing the tax competition theory: How elastic are national tax bases in western Europe?," Department of Economics Working Papers wuwp112, Vienna University of Economics and B.A., Department of Economics. [Downloadable!]
    Other versions:
  6. Theresa Grafeneder-Weissteiner & Klaus Prettner, 2009. "Agglomeration and population aging in a two region model of exogenous growth," Department of Economics Working Papers wuwp125, Vienna University of Economics and B.A., Department of Economics. [Downloadable!]
    Other versions:
  7. Annemarie Steidl & Engelbert Stockhammer, 2007. "Coming and leaving. Internal mobility in late Imperial Austria," Department of Economics Working Papers wuwp107, Vienna University of Economics and B.A., Department of Economics. [Downloadable!]
  8. Engelbert Stockhammer & Paul Ramskogler, 2008. "Post Keynesian economics - how to move forward," Department of Economics Working Papers wuwp124, Vienna University of Economics and B.A., Department of Economics. [Downloadable!]
  9. Olivier Allain, 2006. "La modération salariale : le point de vue des (néo-)kaleckiens," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00196500_v1, HAL. [Downloadable!]
  10. Engelbert Stockhammer & Paul Ramskogler, 2007. "Uncertainty and exploitation in history," Department of Economics Working Papers wuwp104, Vienna University of Economics and B.A., Department of Economics. [Downloadable!]
  11. Özlem Onaran, 2007. "International financial markets and fragility in the Eastern Europe: "can it happen" here?," Department of Economics Working Papers wuwp108, Vienna University of Economics and B.A., Department of Economics. [Downloadable!]
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