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The Microfoundations of Long-run Growth: Controversies on Capacity Utilization and Competition

In: Strategic Competition, Dynamics, and the Role of the State

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Jamee Moudud provides a new microfoundational explanation for the Harrodian long-run or warranted growth rate. The author, emphasizing the role of Keynesian uncertainty, shows that the growth model is anchored in a new interpretation of the Oxford Economists’ Research Group’s microeconomic analysis and a variant of the stock-flow consistent framework. In a distinctly Kaldorian vein, Jamee Moudud discusses the relationship between capital budgeting, public investment, and taxation policy as it relates to the warranted growth rate and its impact on long-term involuntary unemployment.

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  • ., 2010. "The Microfoundations of Long-run Growth: Controversies on Capacity Utilization and Competition," Chapters, in: Strategic Competition, Dynamics, and the Role of the State, chapter 2, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:4241_2
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    Economics and Finance;

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