Some instability puzzles in Kaleckian models of growth and distribution: a critical survey
批判性综述了卡莱茨基增长与分配模型可能存在的稳定性问题,区分了凯恩斯型与哈罗德型不稳定,并评估了批评者提出的各种稳定机制,认为这些机制缺乏说服力,因此不应过早否定产能利用率在长期增长均衡中的内生性。
We tackle the issue of the possible instability of the Kaleckian distribution and growth model. Distinguishing between Keynesian and Harrodian instability, we review various mechanisms that have been proposed by critics of the Kaleckian model to tame Harrodian instability while bringing back the rate of utilisation to its normal rate. We find that the mechanisms that have been suggested are far from convincing. Therefore, we conclude that it may be premature for the critics of the Kaleckian model to dismiss the endogeneity of the rate of capacity utilisation in long-run growth equilibrium. Copyright The Author 2010. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved., Oxford University Press.