Estimating normal rates of capacity utilisation and their tolerable ranges: a comment on Mark Setterfield
改进了估算正常产能利用率及其可容忍范围的方法，使其更符合后凯恩斯行为理论，并基于此部分解释了当前经济停滞现象。
Abstract Taking the potential instability of the Kaleckian model of growth as his starting point, M. Setterfield (‘Long-run variation in capacity utilisation in the presence of a fixed normal rate’, Cambridge Journal of Economics, 2018, doi:10.1093/cje/bey016) investigates, inter alia, the possibility of taming Harrodian instability. His investigation uses a range of tolerable values, rather than a unique value, for the normal rate of capacity utilisation. After illustrating his point theoretically, Setterfield then proposes empirical methods to estimate the normal capacity utilisation rate and the corresponding tolerance range. This paper suggests improved methods to estimate the normal rate of capacity utilisation and its tolerance range. The proposed alternative solutions offer better consistency with post-Keynesian behavioural theories, and the presented exploratory narrative based on these suggestions can partly explain the current stagnation.