TY - JOUR
T1 - Cyclical Fluctuations and Economic Growth
AU - Pasinetti, Luigi Lodovico
PY - 1960
Y1 - 1960
N2 - The Author presents an in depth analysis of the properties of a more general endogenous dynamic model with the help of a mathematical appendix. This model helps explore not only the different dynamic movements, which may follow from the interaction of the multiplier and the principle of acceleration, but also the consequences to the stability of the system deriving from the interrelations between the movements of income and those of the stock of capital. The model is used to explain why all the other theories presented in the paper are unable to explain cyclical movements and growth movements together.
AB - The Author presents an in depth analysis of the properties of a more general endogenous dynamic model with the help of a mathematical appendix. This model helps explore not only the different dynamic movements, which may follow from the interaction of the multiplier and the principle of acceleration, but also the consequences to the stability of the system deriving from the interrelations between the movements of income and those of the stock of capital. The model is used to explain why all the other theories presented in the paper are unable to explain cyclical movements and growth movements together.
KW - A flexible use of macro-economic models
KW - A reinterpretation of a complex dynamics of a modern economic system
KW - Deusenberry's graphical device
KW - Dynamic behaviour of total effective demand in an economic system
KW - The dynamics of income and of stocks of capital
KW - The possibility of steady growth
KW - A flexible use of macro-economic models
KW - A reinterpretation of a complex dynamics of a modern economic system
KW - Deusenberry's graphical device
KW - Dynamic behaviour of total effective demand in an economic system
KW - The dynamics of income and of stocks of capital
KW - The possibility of steady growth
UR - http://hdl.handle.net/10807/66015
U2 - 10.1093/oxfordjournals.oep.a040844
DO - 10.1093/oxfordjournals.oep.a040844
M3 - Article
SN - 0030-7653
VL - 12
SP - 215
EP - 241
JO - Oxford Economic Papers
JF - Oxford Economic Papers
ER -
