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A two‐sector neo‐Kaleckian model of growth and distribution: Investment allocation and evolutionary dynamics
Metroeconomica ( IF 1.0 ) Pub Date : 2020-09-29 , DOI: 10.1111/meca.12317
Ricardo Azevedo Araujo 1 , Carlos Eduardo Drumond 2
Affiliation  

This paper focuses on the two‐sector neo‐Kaleckian model of growth and distribution that was developed by Dutt (1990) and challenged by Park (1995). We develop a variant of this model, focusing on the supply‐side to solve the overdetermination problem that was raised by Park. Finally, we introduce evolutionary dynamics to model the investment flows between the capital and consumer goods sectors. In this setup, the sectoral profit rates and the size of capital stocks wield an essential role upon the entrepreneur’s decision on which sector to invest in. This model is perfectly determined and it generates a stable evolutionary equilibrium over the long term.

中文翻译:

两部门的新卡莱克式增长和分配模型:投资分配和演化动力

本文着重研究了由Dutt(1990)提出并由Park(1995)提出挑战的两部门新的Kaleckian增长和分配模型。我们开发了此模型的一种变体,着重于供应方,以解决Park提出的过度确定问题。最后,我们介绍了演化动力学来模拟资本和消费品部门之间的投资流。在这种设置中,部门利润率和资本存量的大小对企业家决定投资哪个部门起着至关重要的作用。该模型是完美确定的,并且可以长期产生稳定的演化均衡。
更新日期:2020-09-29
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