CRESCIMENTO ENDÓGENO, EQUILÍBRIOS MÚLTIPLOS E O SEGUNDO PROBLEMA DE HARROD - UMA ANÁLISE FORMAL DA TRAJETÓRIA DE DESENVOLVIMENTO DAS ECONOMIAS CAPITALISTAS
DOI:
https://doi.org/10.61673/ren.2000.1934Keywords:
Capital accumulation, Multiple balances, Economic cycleAbstract
This article presents a post-keynesian model of endogenous growth like the models developed by Kaldor and Robinson in which economy can present two possible long term directions. One is characterized by a low growth of capital reserve and a low profit tax - “ low growth path “ - and the other is characterized by a high growth of the capital reserve and high profit tax - “ high growth path “. This result is similar to the one obtained in other post -keynesian models of endogenous growth as it is a consequence of the introduction of a nonlinearity in the basic structure of the model. For a configuration of the presented model parameters, it demonstrates that (i ) economy will converge to the “ low balance position “ and (ii) this convergence will take the format of cyclic flutuations decreased to the values of current profit tax and expected profit tax.