Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/64164
Authors: 
Skott, Peter
Year of Publication: 
2008
Series/Report no.: 
Working Paper, University of Massachusetts, Department of Economics 2008-12
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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