Growth, instability and cycles: Harrodian and Kaleckian models of accumulation and income distribution

Authors

Peter Skott, University of Massachusetts - Amherst

Working Paper Number

2008-12

Publication Date

2008

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.

DOI

https://doi.org/10.7275/1068825

Recommended Citation

Skott, Peter, "Growth, instability and cycles: Harrodian and Kaleckian models of accumulation and income distribution" (2008). Economics Department Working Paper Series. 14.
https://doi.org/10.7275/1068825