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Inconsistencies in the note of Dávila‐Fernández, Oreiro and Punzo.
- Source :
- Metroeconomica; May2019, Vol. 70 Issue 2, p320-324, 5p
- Publication Year :
- 2019
-
Abstract
- This rejoinder is a rebuttal of the claims made by Dávila‐Fernández, Oreiro, and Punzo (in press) in their comment on Lavoie (). All three points that they make are mistaken: I did not pretend that the introduction of autonomous noncapacity expenditures would on its own allow the neo‐Kaleckian growth model to converge toward the normal rate of capacity utilization; the 'Keynesian' message is not eliminated when investment expenditures are essentially induced in a neo‐Kaleckian model; and the equations that they provide to endogenize the normal rate of capacity utilization are meaningless. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 00261386
- Volume :
- 70
- Issue :
- 2
- Database :
- Complementary Index
- Journal :
- Metroeconomica
- Publication Type :
- Academic Journal
- Accession number :
- 135667207
- Full Text :
- https://doi.org/10.1111/meca.12202