Mariolis, Theodore (2012): Goodwin’s Growth Cycle Model with the BhaduriMarglin Accumulation Function.
This is the latest version of this item.
Preview 
PDF
MPRA_paper_40738.pdf Download (364kB)  Preview 
Abstract
This paper incorporates the BhaduriMarglin accumulation function in Goodwin’s growth cycle model. It seems that, a priori, nothing unambiguous can be said about the dynamic behaviour of that extended system, since it depends crucially on two separate factors: (i) the form of the accumulation function; and (ii) the degree of capital heterogeneity.
Item Type:  MPRA Paper 

Original Title:  Goodwin’s Growth Cycle Model with the BhaduriMarglin Accumulation Function 
Language:  English 
Keywords:  BhaduriMarglin accumulation function; capital heterogeneity; Goodwin’s growth cycle model; Sraffian theory 
Subjects:  B  History of Economic Thought, Methodology, and Heterodox Approaches > B5  Current Heterodox Approaches > B51  Socialist ; Marxian ; Sraffian E  Macroeconomics and Monetary Economics > E3  Prices, Business Fluctuations, and Cycles > E32  Business Fluctuations ; Cycles C  Mathematical and Quantitative Methods > C6  Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C67  InputOutput Models C  Mathematical and Quantitative Methods > C6  Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C62  Existence and Stability Conditions of Equilibrium 
Item ID:  87579 
Depositing User:  Theodore Mariolis 
Date Deposited:  26 Jun 2018 02:59 
Last Modified:  26 Sep 2019 13:29 
References:  BarbosaFilho, N. H. and Taylor, L. (2006): ‘Distributive and demand cycles in the U.S. economy – a structuralist Goodwin model’, Metroeconomica, 57 (3), pp. 389411. Bhaduri, A. (2007): ‘On the dynamics of profitled and wageled growth’, Cambridge Journal of Economics, 32 (1), pp. 147160. Bhaduri, A. and Marglin S. (1990): ‘Unemployment and the real wage rate: the economic basis for contesting political ideologies’, Cambridge Journal of Economics, 14 (4), pp. 375393. Blecker, R. A. (1989): ‘International competition, income distribution and economic growth’, Cambridge Journal of Economics, 13 (3), pp. 395412. Canry, N. (2005): ‘Wageled regime, profitled regime and cycles: a model’, Économie Appliquée, 58 (1), pp. 143163. Dutt, A. – K. (1992): ‘Conflict inflation, distribution, cyclical accumulation and crises’, European Journal of Political Economy, 8(4), pp. 579597. Flaschel, P. and Luchtenberg, S. (2012): Roads to Social Capitalism. Theory, Evidence and Policy, Edward Elgar, Cheltenham. Franke, R. (1999): ‘Technical change and a falling wage share if profits are maintained’, Metroeconomica, 50 (1), pp. 3553. Goodwin, R. M. (1967): ‘A growth cycle’, in Feinstein, C. H. (ed.): Socialism, Capitalism and Economic Growth: Essays Presented to Maurice Dobb, Cambridge University Press, London. Goodwin, R. M. (1976): ‘Use of normalized general coordinates in linear value and distribution theory’, in Polenske, K. R. and Skolka, J. V. (eds): Advances in InputOutput Analysis, Ballinger, Cambridge, MA. Goodwin, R. M. (1977): ‘Capital theory in orthogonalised general coordinates’, in Goodwin, R. M. (1983): Essays in Linear Economic Structures, Macmillan, London. Goodwin, R. M. (1984): ‘Disaggregating models of fluctuating growth’, in Goodwin, R. M., Krüger, M., Vercelli, A. (eds): Nonlinear Models of Fluctuating Growth, Springer, Berlin. Goodwin, R. M. (1986): ‘Swinging along the turnpike with von Neumann and Sraffa’, Cambridge Journal of Economics, 10 (3), pp. 203210. Goodwin, R. M., Punzo, L. F. (1987): The Dynamics of a Capitalist Economy: A MultiSectoral Approach, Polity Press, Cambridge. Hirsch, M. W., Smale, S. (1974): Differential Equations, Dynamical Systems and Linear Algebra, Academic Press, New York. Iliadi, F., Mariolis, T., Soklis, G., Tsoulfidis, L. (2012): ‘Bienenfeld’s approximation of production prices and eigenvalue distribution: some more evidence from five European economies’, MPRA Paper 36282, University Library of Munich, Germany, http://mpra.ub.unimuenchen.de/36282/1/MPRA_paper_36282.pdf. Kurz, H. D. (1990): ‘Technical change, growth and distribution: a steadystate approach to ‘unsteady’ growth’, in Kurz, H. D.: Capital, Distribution and Effective Demand. Studies in the ‘Classical’ Approach to Economic Theory, Polity Press, Cambridge. Kurz, H. D. (1994): ‘Growth and distribution’, Review of Political Economy, 6 (4), pp. 393420. Kurz, H. D. (1995): ‘The Keynesian project: Tom Asimakopoulos and the ‘other point of view’’, in Harcourt, G. C., Roncaglia, A. and Rowley, R. (eds): Income and Employment in Theory and Practice: Essays in memory of Athanasios Asimakopoulos, St. Martin’s Press, New York. Mainwaring, L. (1991): ‘Review of the paper ‘Bhaduri, A., Marglin, S. (1990): Unemployment and the real wage rate: the economic basis for contesting political ideologies, Cambridge Journal of Economics’’, European Journal of Political Economy, 7 (4), pp. 632634. Marglin, S. A. (1984): Growth, Distribution and Prices, Harvard University Press, Cambridge. Marglin, S. A., Bhaduri, M. (1988): ‘Profit squeeze and Keynesian theory’, World Institute for Development Economics Research of the United Nations University, Working Paper 39, April 1988. Mariolis, T. (2006a): Introduction to the Theory of Endogenous Economic Fluctuations. Linear and Nonlinear Economic Oscillators (in Greek), Τυπωθήτω, Athens. Mariolis, T. (2006b): ‘Distribution and growth in a multisector open economy with excess capacity’, Economia Internazionale/International Economics, 59 (1), pp. 5161. Mariolis, T. (2007): ‘Distribution and growth in an economy with heterogeneous capital and excess capacity’, AsianAfrican Journal of Economics and Econometrics, 7 (12), pp. 365375. Mariolis, T. and Tsoulfidis, L. (2011): ‘Eigenvalue distribution and the production priceprofit rate relationship: theory and empirical evidence’, Evolutionary and Institutional Economics Review, 8 (1), pp. 87122. May, R. M. (1972): ‘Limit cycles in predatorprey communities’, Science, 177 (4052), pp. 900902. Medio, A. (1992): Chaotic Dynamics. Theory and Applications to Economics, Cambridge University Press, Cambridge. Nikiforos, M. and Foley, D. K. (2012): ‘Distribution and capacity utilization: conceptual issues and empirical evidence’, Metroeconomica, 63 (1), pp. 200229. Rodousakis, N. (2012): ‘Goodwin’s Lotka–Volterra model in disaggregative form: a correction note’, Metroeconomica (forthcoming: DOI: 10.1111/j.1467999X.2012.04156.x). Schefold, B. (2008): ‘Families of strongly curved and of nearly linear wage curves: a contribution to the debate about the surrogate production function’, Bulletin of Political Economy, 2 (1), pp. 124. Skott, P. (1989): ‘Effective demand, class struggle and cyclical growth’, International Economic Review, 30 (1), pp. 231247. Skott, P. (2012): ‘Shortcomings of the Kaleckian investment function’, Metroeconomica, 63 (1), pp. 109138. Sordi, S. (2003): ‘The interaction between growth and cycle in macrodynamic models of the economy’, in Salvadori, N. (ed.): The Theory of Economic Growth. A ‘Classical’ Perspective, Edward Elgar, Cheltenham. Sportelli, M. C. (1995): ‘A Kolmogoroff generalized predatorprey model of Goodwin’s growth cycle’, Journal of Economics, 61 (1), pp. 3564. Sraffa, P. (1960): Production of Commodities by Means of Commodities. Prelude to a Critique of Economic Theory, Cambridge University Press, Cambridge. Veneziani, R. and Mohun, S. (2006): ‘Structural stability and Goodwin’s growth cycle’, Structural Change and Economic Dynamics, 17 (4), pp. 437451. Vercelli, A. (1984): ‘Fluctuations and growth: Keynes, Schumpeter, Marx and the structural instability of capitalism’, in Goodwin, R. M., Krüger, M. and Vercelli, A. (eds): Nonlinear Models of Fluctuating Growth, Springer, Berlin. 
URI:  https://mpra.ub.unimuenchen.de/id/eprint/87579 
Available Versions of this Item

Goodwin’s Growth Cycle Model with the BhaduriMarglin Accumulation Function. (deposited 18 Aug 2012 18:27)
 Goodwin’s Growth Cycle Model with the BhaduriMarglin Accumulation Function. (deposited 26 Jun 2018 02:59) [Currently Displayed]