Debt and Endogenous Retention Rate in a Kaleckian Model of Accumulation with Productive Capacity Utilization
The Post-Keynesian theory of debt is examined from a different perspective. First, a standard macromodel of capacity utilization and growth is presented. Then, the long-run behaviour of this model by endogenizing the stock of debt and the corporate retention rate is taken into consideration. Subsequ...
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| Formato: | Artículo científico |
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Universidad Autónoma Metropolitana Unidad Azcapotzalco
2007
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| Acceso en línea: | http://www.redalyc.org/articulo.oa?id=41305006 http://biblioteca.clacso.edu.ar/gsdl/cgi-bin/library.cgi?a=d&c=mx/mx-022&d=41305006oai |
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| Sumario: | The Post-Keynesian theory of debt is examined from a different perspective. First, a standard macromodel of capacity utilization and growth is presented. Then, the long-run behaviour of this model by endogenizing the stock of debt and the corporate retention rate is taken into consideration. Subsequently, it is shown that a wide range of dynamical behaviours is plausible as also the fundamental role of firms adjustment speed to disequilibria. |
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