Exploring the Supply Side of Kaldorian Growth Models
Recent Kaldorian growth models emphasize the need to reconcile the demand-led actual rate of growth and the potential rate of growth. This issue is revisited in light of criticism suggesting it is a “red herring”. An explicit model of the supply side is used to show that, in a mature economy, it is unlikely that steady-state, demand-led growth will always be automatically accommodated by the supply side. The conclusion reached is that attention must, therefore, be paid to the possible emergence of supply constraints on growth, and the implications thereof for steady-state, demand-led growth models.
|Date of creation:||Jul 2012|
|Contact details of provider:|| Postal: 300 Summit Street, Hartford, CT 06106-3100|
Phone: (860) 297 - 2485
Web page: http://www.trincoll.edu/Academics/MajorsAndMinors/Economics/Pages/default.aspx
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Peter Skott, 2012.
"Theoretical And Empirical Shortcomings Of The Kaleckian Investment Function,"
Wiley Blackwell, vol. 63(1), pages 109-138, 02.
- Peter Skott, 2008. "Theoretical and empirical shortcomings of the Kaleckian investment function," UMASS Amherst Economics Working Papers 2008-11, University of Massachusetts Amherst, Department of Economics, revised Dec 2009.
- Christian Schoder, 2012. "Hysteresis In The Kaleckian Growth Model: A Bayesian Analysis For The Us Manufacturing Sector From 1984 To 2007," Metroeconomica, Wiley Blackwell, vol. 63(3), pages 542-568, 07.
- Christian Schoder, 2012. "Hysteresis in the Kaleckian growth model: a Bayesian analysis for the US manufacturing sector from 1984 to 2007," Working Papers 1201, New School for Social Research, Department of Economics.
- Thomas Palley, 2003. "Pitfalls in the Theory of Growth: An application to the balance of payments constrained growth model," Review of Political Economy, Taylor & Francis Journals, vol. 15(1), pages 75-84.
- Thomas I. Palley, 2002. "Pitfalls in the Theory of Growth: An Application to the Balance-of-Payments-Constrained Growth Model," Chapters,in: The Economics of Demand-Led Growth, chapter 7 Edward Elgar Publishing.
- Gabriel Porcile & Gilberto Tadeu Lima, 2010. "Real exchange rate and elasticity of labour supply in a balance-of-payments-constrained macrodynamics," Cambridge Journal of Economics, Oxford University Press, vol. 34(6), pages 1019-1039.
- Gabriel Porcile & Gilberto Tadeu Lima, 2006. "Real Exchange Rate And Elasticity Of Labor Supply In A Balance-Of-Payments-Constrained Macrodynamics," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 11, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
- Anthony P. Thirlwall, 2011. "Balance of payments constrained growth models: history and overview," PSL Quarterly Review, Economia civile, vol. 64(259), pages 307-351.
- A. P. Thirlwall, 2011. "Balance of Payments Constrained Growth Models: History and Overview," Studies in Economics 1111, School of Economics, University of Kent.
- Eckhard Hein & Marc Lavoie & Till van Treeck, 2011. "Some instability puzzles in Kaleckian models of growth and distribution: a critical survey," Cambridge Journal of Economics, Oxford University Press, vol. 35(3), pages 587-612.
- Eckhard Hein & Marc Lavoie & Till van Treeck, 2008. "Some instability puzzles in Kaleckian models of growth and distribution: A critical survey," IMK Working Paper 19-2008, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
- A. P. Thirl Wall, 2001. "The Relation between the Warranted Growth Rate, the Natural Rate, and the Balance of Payments Equilibrium Growth Rate," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 24(1), pages 81-88, October.
- Philip Arestis & John S.L. McCombie & Roger Vickerman (ed.), 2006. "Growth and Economic Development," Books, Edward Elgar Publishing, number 3463.
- Antonella Palumbo, 2009. "Adjusting Theory to Reality: The Role of Aggregate Demand in Kaldor's Late Contributions on Economic Growth," Review of Political Economy, Taylor & Francis Journals, vol. 21(3), pages 341-368.
- Anthony P. Thirlwall, 2011. "The Balance of Payments Constraint as an Explanation of International Growth Rate Differences," PSL Quarterly Review, Economia civile, vol. 64(259), pages 429-438.
- Anthony Philip Thirlwall, 1979. "The Balance of Payments Constraint as an Explanation of International Growth Rate Differences," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 32(128), pages 45-53.
- Anthony Philip Thirlwall, 1979. "The Balance of Payments Constraint as an Explanation of International Growth Rate Differences," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 32(128), pages 45-53.
- Eckhard Hein & Marc Lavoie & Till van Treeck, 2012. "Harrodian Instability And The ‘Normal Rate’ Of Capacity Utilization In Kaleckian Models Of Distribution And Growth—A Survey," Metroeconomica, Wiley Blackwell, vol. 63(1), pages 139-169, 02.
- Setterfield, Mark, 1997. "'History versus Equilibrium' and the Theory of Economic Growth," Cambridge Journal of Economics, Oxford University Press, vol. 21(3), pages 365-378, May. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:tri:wpaper:1206. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joshua Stillwagon)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.