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- Title
Prototypes, Reality and the Growth Rate of Autonomous Consumption Expenditures: A Rejoinder.
- Authors
Lavoie, Marc
- Abstract
ABSTRACT I respond to Skott' (2016) main comments on Lavoie (2016), which are: first, when calibrating with plausible parameter values, the stabilizing mechanism is unlikely to operate; second, in the analysis of the simple model, I have omitted the second stationary solution; third, he implies that the constraints that need to be imposed on my simple and complex models are in contradiction with each other. I argue that Skott confutes prototypes and reality; that the second stationary solution is of little interest; and that the constraints that need to be imposed on the simple and complex variants of the model are not in contradiction with each other.
- Subjects
CONSUMPTION (Economics); SCOTT, Peter; KALECKIAN Model of Growth &; Distribution; PROTOTYPES; PLAUSIBILITY (Logic); ULTRA vires
- Publication
Metroeconomica, 2017, Vol 68, Issue 1, p194
- ISSN
0026-1386
- Publication type
Article
- DOI
10.1111/meca.12152