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Goodwin’s Growth Cycle Model with the Bhaduri-Marglin Accumulation Function

Mariolis, Theodore (2012): Goodwin’s Growth Cycle Model with the Bhaduri-Marglin Accumulation Function.

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Abstract

This paper incorporates the Bhaduri-Marglin 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.

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