Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/105735
Authors: 
Skott, Peter
Flaschel, Peter
Year of Publication: 
2004
Series/Report no.: 
Working Paper, University of Massachusetts, Department of Economics 2004-11
Abstract: 
This paper examines Steindl’s original 1952 model and relates it to subsequent stagnationist models. The model is then extended by introducing endogenous changes in the markup and a reformulation of the investment function. These extensions address weaknesses of the simpler models, find support in Steindl’s writing and leave intact some of Steindl’s key results. In a further extension, we add a labour market and analyse the stabilizing influence of a Marxian reserve-army mechanism. The implications of this model for the effects of increased monopolization are largely in line with Steindl’s predictions.
Subjects: 
Steindl
accumulation
stagnation
markup
monopolization
reserve army of labour
JEL: 
E24
E31
E32
Document Type: 
Working Paper

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