Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/64222
Authors: 
Skott, Peter
Year of Publication: 
2008
Series/Report no.: 
Working Paper, University of Massachusetts, Department of Economics 2008-11
Abstract: 
The specification of the accumulation function is critical for the properties and implications of structuralist and post-Keynesian models. A large Kaleckian literature assumes that investment is relatively insensitive to variations in the utilization rate of capital, and this extension of a standard short-run Keynesian stability condition to the long run has been defended by Lavoie and Dutt, among others. This paper examines the theoretical and empirical arguments for and against a Kaleckian specification.
Subjects: 
Kalecki
Harrod
investment function
stability
post keynesian theory
utilization rate
excess capacity
JEL: 
E12
E32
Document Type: 
Working Paper

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