Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/246832 
Authors: 
Year of Publication: 
2021
Series/Report no.: 
FMM Working Paper No. 67
Publisher: 
Hans-Böckler-Stiftung, Macroeconomic Policy Institute (IMK), Forum for Macroeconomics and Macroeconomic Policies (FMM), Düsseldorf
Abstract: 
A recent literature has explored the role of semi-autonomous demand growth. This paper builds on the literature by incorporating a Lernerian government semi-autonomous demand function and an endogenous supply-side. Our main purpose is threefold. First, we wish to contribute to the case for crowding-in effects, especially in the long-run. Second, we confirm the Keynesian/Kaleckian pedigree of the capital stock adjustment principle. Third, we contrast core post-Keynesian ideas on demand-led supply-side endogeneity with the alternative neo-Marxian neo-Harrodian proposition of an exogenously-given natural growth rate, and find the latter lacking.
Subjects: 
Fiscal policy
Crowding-in
Semi-autonomous demand
Capital stock adjustment principle
JEL: 
B22
B50
E11
E20
E60
O42
Creative Commons License: 
cc-by Logo
Document Type: 
Working Paper

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