Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/64164 
Authors: 
Year of Publication: 
2008
Series/Report no.: 
Working Paper No. 2008-12
Publisher: 
University of Massachusetts, Department of Economics, Amherst, MA
Abstract: 
This paper compares Kaleckian and Harrodian models of accumulation. The simplicity of the canonical Kaleckian model is appealing but more complex Harrodian specifications are preferable from a behavioral perspective. The local instability of Harrodian-inspired specifications, moreover, offers a unified understanding of both trend and cycles.
Subjects: 
Kalecki
Harrod
Kaldor
Robinson
Steindl
investment function
stability
growth cycle
reserve army
multiple equilibria
JEL: 
E12
E32
O41
Document Type: 
Working Paper

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