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About Modeling Keynes With Kalecki and Finance
This document presents the Keynes-Kalecki-Finance (KKF) model, which extends an earlier Keynes-Kalecki (KK) model by adding financial factors of Kalecki's "increasing risk" and the ratio of total debt to equity. The KKF model uses profitability gap and increasing risk to drive investment and growth in a competitive economy. Simulation experiments perturbing initial values show outcomes consistent with post-Keynesian theory, such as an effective demand effect. The KKF model demonstrates that non-equilibrium dynamic computer models can exhibit post-Keynesian features within a flexible competitive environment.
Detailed Information
| Author: | ['davidguachalla10'] |
|---|---|
| Publication Year: | 2019 |
| Pages: | 33 |
| Language: | English |
| Format: | |
| Price: | FREE |
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