Arbeitspapier
The economics of the super-multiplier
This paper links the super-multiplier to Keynesian macroeconomics, showing it to be the most Keynesian of growth perspectives. Next, the paper shows that the super-multiplier is a micro-economically coherent theory of investment and capital accumulation. Firms' decisions regarding capital accumulation coordinate demand and supply growth in goods markets. The paper then explores the implications of incorporating the super-multiplier in the Neo-Kaleckian and Cambridge growth models. Lastly, it shows how labor markets and unemployment can be added into super-multiplier models to provide a comprehensive growth model that addresses Solow's (1956) labor market knife-edge problem. Incorporating labor markets does not change the fundamental super-multiplier result that growth is determined by the growth of autonomous demand.
- Sprache
-
Englisch
- Erschienen in
-
Series: FMM Working Paper ; No. 33
- Klassifikation
-
Wirtschaft
One, Two, and Multisector Growth Models
Technological Change: Choices and Consequences; Diffusion Processes
General Aggregative Models: Keynes; Keynesian; Post-Keynesian
- Thema
-
Super-multiplier
growth
unemployment
endogenous technical progress
Solow Knife-edge
Hicks
Kaldor
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Palley, Thomas I.
- Ereignis
-
Veröffentlichung
- (wer)
-
Hans-Böckler-Stiftung, Macroeconomic Policy Institute (IMK), Forum for Macroeconomics and Macroeconomic Policies (FMM)
- (wo)
-
Düsseldorf
- (wann)
-
2018
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Palley, Thomas I.
- Hans-Böckler-Stiftung, Macroeconomic Policy Institute (IMK), Forum for Macroeconomics and Macroeconomic Policies (FMM)
Entstanden
- 2018
Ähnliche Objekte (12)
The Conservation Multiplier
The Keynesian multiplier effect reconsidered
Multiplier Analysis
Parameter Uncertainty and the Fiscal Multiplier
Financial Fragility and the Fiscal Multiplier
The fiscal multiplier: positive or negative?
Shadow banks and the collateral multiplier
China saving's multiplier
Fallacy of the multiplier effect: Correcting the income analysis
The Multiplier-Effects of Non-Wasteful Government Expenditure
Regional Consumption Responses and the Aggregate Fiscal Multiplier
Natural Disasters, Government Spending, and the Fiscal Multiplier
The Conservation Multiplier
The Keynesian multiplier effect reconsidered
Multiplier Analysis
Parameter Uncertainty and the Fiscal Multiplier
Financial Fragility and the Fiscal Multiplier
The fiscal multiplier: positive or negative?
Shadow banks and the collateral multiplier
China saving's multiplier
Fallacy of the multiplier effect: Correcting the income analysis
The Multiplier-Effects of Non-Wasteful Government Expenditure
Regional Consumption Responses and the Aggregate Fiscal Multiplier
Natural Disasters, Government Spending, and the Fiscal Multiplier
The Conservation Multiplier
The Keynesian multiplier effect reconsidered
Multiplier Analysis
Parameter Uncertainty and the Fiscal Multiplier
Financial Fragility and the Fiscal Multiplier
The fiscal multiplier: positive or negative?
Shadow banks and the collateral multiplier
China saving's multiplier
Fallacy of the multiplier effect: Correcting the income analysis
The Multiplier-Effects of Non-Wasteful Government Expenditure
Regional Consumption Responses and the Aggregate Fiscal Multiplier