IDEAS home Printed from https://ideas.repec.org/p/wpa/wuwpma/0511006.html
   My bibliography  Save this paper

Complex dynamics in a Pasinetti-Solow model of growth and distribution

Author

Listed:
  • Pasquale Commendatore

    (Dipartimento di Teoria Economica e Applicazioni, Università di Napoli 'Federico II', I-80138, Napoli Italy)

Abstract

In this paper, we study some of the properties of a discrete-time version of the two-class model of growth and distribution proposed by Pasinetti (1962) and Samuelson and Modigliani (1966) with a concave production function of the CES type. Two distinct groups of agents, workers and capitalists, exist. Following Chiang (1973), we assume that the first group saves out of wages and profits by applying to these income sources propensities to save which are not necessarily equal. Capitalists’ saving originates only from capital income. The model is two-dimensional involving distributive processes that occur not only between factor shares but also between the two groups in the economy. We explore through simulations the large variety of dynamic behaviours that emerge from this formulation.

Suggested Citation

  • Pasquale Commendatore, 2005. "Complex dynamics in a Pasinetti-Solow model of growth and distribution," Macroeconomics 0511006, University Library of Munich, Germany.
  • Handle: RePEc:wpa:wuwpma:0511006
    Note: Type of Document - doc; pages: 28
    as

    Download full text from publisher

    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/mac/papers/0511/0511006.doc
    Download Restriction: no

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Juan Sebastián Pereyra & Juan Gabriel Brida, 2008. "The Solow model in discrete time and decreasing population growth rate," Economics Bulletin, AccessEcon, vol. 3(41), pages 1-14.
    2. Dohtani, Akitaka, 2010. "A growth-cycle model of Solow-Swan type, I," Journal of Economic Behavior & Organization, Elsevier, vol. 76(2), pages 428-444, November.
    3. Luca Zamparelli, 2017. "Wealth Distribution, Elasticity of Substitution and Piketty: An ‘Anti-Dual’ Pasinetti Economy," Metroeconomica, Wiley Blackwell, vol. 68(4), pages 927-946, November.

    More about this item

    Keywords

    Growth; Income distribution; Complex dynamics; Chaos;

    JEL classification:

    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpma:0511006. 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: (EconWPA). General contact details of provider: https://econwpa.ub.uni-muenchen.de .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.