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Prototypes, reality and the growth of autonomous expenditures: a rejoinder

Author

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  • Marc Lavoie

    (CEPN - Centre d'Economie de l'Université Paris Nord - UP13 - Université Paris 13 - USPC - Université Sorbonne Paris Cité - CNRS - Centre National de la Recherche Scientifique, University of Ottawa [Ottawa])

Abstract

I respond to Skott’ (2016) main comments on Lavoie (2016), which are: first, when calibrating with plausible parameter values, the stabilizing mechanism is unlikely to operate; second, in the analysis of the simple model, I have omitted the second stationary solution; third, he implies that the constraints that need to be imposed on my simple and complex models are in contradiction with each other. I argue that Skott confutes prototypes and reality; that the second stationary solution is of little interest; and that the constraints that need to be imposed on the simple and complex variants of the model are not in contradiction with each other.

Suggested Citation

  • Marc Lavoie, 2017. "Prototypes, reality and the growth of autonomous expenditures: a rejoinder," Post-Print hal-01435724, HAL.
  • Handle: RePEc:hal:journl:hal-01435724
    Note: View the original document on HAL open archive server: https://hal-univ-paris13.archives-ouvertes.fr/hal-01435724
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