Prototypes, reality and the growth of autonomous expenditures: a rejoinder
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.
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|Date of creation:||2017|
|Publication status:||Published in Metroeconomica, Wiley, 2017|
|Note:||View the original document on HAL open archive server: https://hal-univ-paris13.archives-ouvertes.fr/hal-01435724|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
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