Faria, J.R. and Teixeira, J.R. (1999) Growth and stability in a model with Pasinettian saving behaviour and neoclassical technology. Manchester School, 67 (1). pp. 111-121. ISSN 1463-6786.
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We analyse a Kaldor-Pasinetti two-class model of growth and distribution in which fiscal activity is explicitly introduced along the lines of Pasinetti ('Ricardian Debt/Taxation Equivalence in the Kaldor Theory of Profits and Income Distribution', Cambridge Journal of Economics, Vol. 13 (1989), pp. 25-36). Following the approach of Darity ('A Simple Analytics of Neo-Ricardian Growth and Distribution', American Economic Review, Vol. 71 (1981), pp. 978-993) the model is reduced to a dynamic system where the Cambridge equation is one of the possible steady-state solutions. The conditions for its local stability are studied and a numerical example is presented. The anti-dual case is more likely to occur in order to guarantee the local stability of the Cambridge equation.
|Subjects:||H Social Sciences|
|Divisions:||Faculties > Social Sciences > School of Economics|
|Depositing User:||M. Nasiriavanaki|
|Date Deposited:||01 Jul 2009 07:11|
|Last Modified:||01 Jul 2009 07:11|
|Resource URI:||http://kar.kent.ac.uk/id/eprint/17321 (The current URI for this page, for reference purposes)|
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