Electronic Resource
Springer
De economist
118 (1970), S. 491-505
ISSN:
1572-9982
Source:
Springer Online Journal Archives 1860-2000
Topics:
Economics
Notes:
Summary Two behavioural models of economic growth are developed: a neo-classical and a neo-keynesian (Kaldorian) one. In the neo-classical model consumers aspire to a certain level of consumption. Savings and supply of labour (man-hours) are the means for reaching this level. In the neo-keynesian model firms and households have a certain aspiration level with respect to profits and consumption, respectively. To reach these levels firms decide to invest and households to supply man-hours. In both models growth is entirely dependent on the parameters of the behaviour equations. In this respect they differ from the traditional neo-classical and neo-keynesian (Kaldorian) models, in which growth is eventually determined by autonomous technical progress and growth of the labour force.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1007/BF01712922
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