Economics Department Working Paper Series
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