Debt, financial fragility, and economic growth: a Post Keynesian macromodel

António J. A. Meirelles · Gilberto Tadeu Lima

40 citations0/0 files storedJournal of Post Keynesian Economics

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Economic Theory and Policy Monetary Policy and Economic Impact Economic theories and models

Abstract

A Post Keynesian macromodel of capacity utilization and economic growth is developed in which the supply of credit-money by the banking system is endogenous, and firms' financial fragility is explicitly modeled. Both the influence of interest rate and indebtedness on capacity utilization and the rates of profit and economic growth, on the one hand, and the effect of the parameters of the saving and investment functions on firms' financial fragility, on the other hand, are carefully analyzed.

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References

1955Alternative Theories of Distribution 1975John Maynard Keynes 1972Selected Essays in the Dynamics of the Capitalist Economy.1982Can "It" Happen Again? Essays on Instability and Finance 1977Entry, Capacity, Investment and Oligopolistic Pricing 1962Rate of Profit and Income Distribution in Relation to the Rate of Economic Growth 1962Essays in the Theory of Economic Growth 1940A Model of the Trade Cycle

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