Önder Nomaler, Danilo Spinola and Bart Verspagen

Author Archive | Önder Nomaler, Danilo Spinola and Bart Verspagen


Schumpeter and Keynes: Economic Growth in a Super-Multiplier Model

We present a model of economic growth that is based on Keynesian ideas (the role of autonomous demand in economic growth) as well as Schumpeterian notions (technological change). Our model fits in the Sraffian supermultiplier (SSM) tradition, and we endogenize the growth rate of autonomous demand, and semi-endogenize productivity growth. The basic model has a […]

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Supply and demand in Kaldorian growth models: a proposal for dynamic adjustment

This paper analyses the dynamic adjustment of supply and demand in Kaldorian growth models. We discuss how the growth rate of a country given by the demand constraints may adjust towards the growth rate given by the supply-side (and vice-versa), presenting the necessary conditions for this adjustment. Our main conclusion is that, for a monopolistic […]

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Patterns of growth in structuralist models: the role of the real exchange rate and industrial policy

This paper presents a Balance-of-payments (BOP)-constrained growth model in which the interaction between the real exchange rate (RER) policy and industrial policy result in the emergence of different patterns of growth and income distribution. The paper relies on cumulative causation à la Kaldor and path-dependency to relate both types of policies. The transition from one […]

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