Super Haavelmo: balanced and unbalanced budget theorems and the sraffian supermultiplier
This paper extends the analysis of Haavelmo (1945), which derived the multiplier effect of a balanced budget expansion of public
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The Trouble with Harrod: the fundamental instability of the warranted rate in the light of the Sraffian Supermultiplier
The paper discusses Harrod’s “principle of fundamental instability” of growth at the warranted rate, using the Sraffian Supermultiplier model, together
Continue lendoDecomposing the Growth of Portugal: A Case for Increasing Demand, not austerity, in a Small European Economy
This paper presents an analysis of Portugal’s economy from 1999 to 2015, providing an alternative to explanations that present the
Continue lendoAn alternative model to the open-economy ‘new consensus’
In this paper we present a heterodox open-economy macroeconomic model aiming to establish an alternative view to the “New Consensus”
Continue lendoEl supermultiplicador sraffiano y el papel de la demanda efectiva en los modelos de crecimiento
La teoría moderna del crecimiento económico tiene su origen en el trabajo de Harrod (1939). Es a partir de los
Continue lendoThe Sraffian Supermultiplier
This is a study in the notion of long-period effective demand, viewed from a Sraffian standpoint. First, we examine the
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