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Goodwin’s Growth Cycle Model with the Bhaduri-Marglin Accumulation Function

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  • Mariollis, Theodore

Abstract

This paper incorporates the Bhaduri-Marglin accumulation function in Goodwin’s growth cycle model. It seems that, a priori, nothing unambiguous can be said about the dynamic behaviour of that extended system, since it depends crucially on two separate factors: (i) the form of the accumulation function; and (ii) the degree of capital heterogeneity.

Suggested Citation

  • Mariollis, Theodore, 2012. "Goodwin’s Growth Cycle Model with the Bhaduri-Marglin Accumulation Function," MPRA Paper 40738, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:40738
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    File URL: https://mpra.ub.uni-muenchen.de/40738/1/MPRA_paper_40738.pdf
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    References listed on IDEAS

    as
    1. Goodwin, Richard M, 1986. "Swinging along the Turnpike with von Neumann and Sraffa," Cambridge Journal of Economics, Oxford University Press, vol. 10(3), pages 203-210, September.
    2. Dutt, Amitava Krishna, 1992. "Conflict inflation, distribution, cyclical accumulation and crises," European Journal of Political Economy, Elsevier, vol. 8(4), pages 579-597, December.
    3. Mariolis, Theodore, 2006. "Distribution and Growth in a Multi-Sector Open Economy with Excess Capacity," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 59(1), pages 51-61.
    4. Veneziani, Roberto & Mohun, Simon, 2006. "Structural stability and Goodwin's growth cycle," Structural Change and Economic Dynamics, Elsevier, vol. 17(4), pages 437-451, December.
    5. Medio,Alfredo & Gallo,Giampaolo, 1995. "Chaotic Dynamics," Cambridge Books, Cambridge University Press, number 9780521484619, April.
    6. Blecker, Robert A, 1989. "International Competition, Income Distribution and Economic Growth," Cambridge Journal of Economics, Oxford University Press, vol. 13(3), pages 395-412, September.
    7. Nelson H. Barbosa-Filho & Lance Taylor, 2006. "Distributive And Demand Cycles In The Us Economy-A Structuralist Goodwin Model," Metroeconomica, Wiley Blackwell, vol. 57(3), pages 389-411, July.
    8. Michalis Nikiforos & Duncan K. Foley, 2012. "Distribution And Capacity Utilization: Conceptual Issues And Empirical Evidence," Metroeconomica, Wiley Blackwell, vol. 63(1), pages 200-229, February.
    9. Iliadi, Fotoula & Mariolis, Theodore & Soklis, George & Tsoulfidis, Lefteris, 2012. "Bienenfeld’s approximation of production prices and eigenvalue distribution: some more evidence from five European economies," MPRA Paper 36282, University Library of Munich, Germany.
    10. Skott, Peter, 1989. "Effective Demand, Class Struggle and Cyclical Growth," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 30(1), pages 231-247, February.
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    Cited by:

    1. Mariolis, Theodore, 2014. "Η θεωρία οικονομικών κρίσεων του Karl Marx
      [Karl Marx’s theory of economic crises]
      ," MPRA Paper 56831, University Library of Munich, Germany.

    More about this item

    Keywords

    Bhaduri-Marglin accumulation function; capital heterogeneity; Goodwin’s growth cycle model; Sraffian theory;

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium

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