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

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

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.

• Item Type: MPRA Paper
• Language: English
• Keywords: Bhaduri-Marglin 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 - Input-Output Models; C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C62 - Existence and Stability Conditions of Equilibrium

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