A note on Heterodox Macroeconomics by Blecker and Setterfield

Autor:	Emiliano Libman
Rok vydání:	2020
Předmět:	Economics and Econometrics Institutional economics Economics Post-Keynesian economics Neoclassical economics Growth theory Finance Simple (philosophy)
Zdroj:	European Journal of Economics and Economic Policies: Intervention. 17:286-294
ISSN:	2052-7772 2052-7764
DOI:	10.4337/ejeep.2020.03.02
Popis:	Blecker and Setterfield's new textbook from 2019 presents an updated discussion of heterodox models of growth and distribution. This note clarifies and elaborates on three important issues discussed in the book. First, the text presents mainly one-sectoral and one-technique models, which is a reasonable set-up to keep things simple but not always enough to discuss some controversial issues. Second, continuous substitution is important but not essential for neoclassical growth theory. Third, the popular Goodwin model presented in the text does not produce ‘limit cycles.’
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::1d8a230cf425ca86bf2c00fac66af4df https://doi.org/10.4337/ejeep.2020.03.02 Zobrazit plný text záznamu