Episodic incidence of Harrodian instability and the Kaleckian growth model: A Markov‐switching approach

To assess the conditional stability properties of the Kaleckian growth framework in the medium‐run, I investigate behavioral corridors where investment will be unresponsive to departures of actual from desired utilization rates—thus providing for the episodic incidence of Harrodian instability. I em...

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Veröffentlicht in:	Metroeconomica 2022-02, Vol.73 (1), p.268-290
1. Verfasser:	Hartley, Brian
Format:	Artikel
Sprache:	eng
Schlagworte:	Bayesian econometrics Business cycles Economic analysis Endogenous growth and distribution Growth models Harrodian instability hidden Markov models Investments Kaleckian growth model structural vector auto‐regression
Online-Zugang:	Volltext
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