Strategic competition, dynamics, and the role of the state a new perspective
Jamee Moudud provides a new microfoundational explanation for the Harrodian long-run or warranted growth rate. The author, emphasizing the role of Keynesian uncertainty, shows that the growth model is anchored in a new interpretation of the Oxford Economists" Research Group's microeconomic...
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| Format: | eBook |
| Language: | English |
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Northampton, Mass
Edward Elgar Pub
2010
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| Series: | New directions in modern economics
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| Collection: | Edward Elgar eBook Archive - Collection details see MPG.ReNa |
| Summary: | Jamee Moudud provides a new microfoundational explanation for the Harrodian long-run or warranted growth rate. The author, emphasizing the role of Keynesian uncertainty, shows that the growth model is anchored in a new interpretation of the Oxford Economists" Research Group's microeconomic analysis and a variant of the stock-flow consistent framework. In a distinctly Kaldorian vein, Jamee Moudud discusses the relationship between capital budgeting, public investment, and taxation policy as it relates to the warranted growth rate and its impact on long-term involuntary unemployment 1. Introduction -- 2. The microfoundations of long-run growth : controversies on capacity utilization and competition -- 3. A review of the literature on growth -- 4. A model of disequilibrium dynamics -- 5. Warranted growth and the role of the state -- 6. Conclusion : the relevance of microfoundations and politics |
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| Physical Description: | xiii, 167 p ill |
| ISBN: | 1845429230 9781845429232 9781849805407 |