Burying Samuelson's multiplier-accelerator and resurrecting Goodwin's growth cycle in Minsky

Samuelson's Multiplier-Accelerator model is based on the economic mistake of adding together desired investment and actual savings to derive aggregate expenditure, when it is the sum of actual investment and actual savings. Its fluctuations are not a model of the business cycle, but convergence...

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Veröffentlicht in:	Feedback economics
1. Verfasser:	Keen, Steve (VerfasserIn)
Format:	UnknownFormat
Sprache:	eng
Veröffentlicht:	2021
Schlagworte:	Financial instability > Hyman Minsky > Macroeconomic foundations > Multiplier-accelerator > System dynamics > Aufsatz im Buch
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