Normal utilization as the adjusting variable in Neo-Kaleckian growth models: A critique
As well-known, the canonical Neo-Kaleckian growth model fails to reconcile actual and normal rates of utilization in equilibrium. Some recent contributions revive an old proposal for solving this problem—making the normal rate of utilization an endogenous variable that converges to the actual utiliz...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Wiley-Blackwell
2019
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| Subjects: | |
| Online Access: | View Fulltext in Publisher |