Skip to main content

Profit-Rate Equalization in the Kalecki–Steindl Model and the “Over-Determination” Problem

Buy Article:

$51.00 plus tax (Refund Policy)

Abstract:

This note points out that the “over-determination” problem discovered by Park in Kalecki–Steindl (KS) models is not a problem intrinsic to KS models and can easily be removed if one introduces a mechanism involving classical competition into them. The solution to the problem suggested by Park using a moving-average interpretation is therefore unnecessary, and also it does not provide an adequate solution to the “over-determination” problem. However, the interpretation does serve to clarify the meaning of long-run equilibria in KS models.

Document Type: Original Article

DOI: https://doi.org/10.1111/1467-9957.00074

Affiliations: University of Notre Dame

Publication date: 1997-09-01

  • Access Key
  • Free content
  • Partial Free content
  • New content
  • Open access content
  • Partial Open access content
  • Subscribed content
  • Partial Subscribed content
  • Free trial content
Cookie Policy
X
Cookie Policy
Ingenta Connect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more