{"title":"Critical notes on some recent Neo-Kaleckian contributions on capacity utilization","authors":"S. J. Gahn","doi":"10.4337/roke.2023.03.01","DOIUrl":null,"url":null,"abstract":"Within the non-mainstream growth literature, the Neo-Kaleckian model is the only one that presents an endogenous capacity utilization in the long run. After systematizing the debate around recent contributions, presenting the baseline and extensions of the Neo-Kaleckian model and providing some notes on the normal rate of capacity utilization, I critically assess three recent alternatives that try to justify endogenous utilization in Neo-Kaleckian models. All these contributions present different theoretical and empirical shortcomings that should be addressed in order to substantiate their claims.","PeriodicalId":45671,"journal":{"name":"Review of Keynesian Economics","volume":" ","pages":""},"PeriodicalIF":1.8000,"publicationDate":"2023-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Review of Keynesian Economics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.4337/roke.2023.03.01","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
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Abstract
Within the non-mainstream growth literature, the Neo-Kaleckian model is the only one that presents an endogenous capacity utilization in the long run. After systematizing the debate around recent contributions, presenting the baseline and extensions of the Neo-Kaleckian model and providing some notes on the normal rate of capacity utilization, I critically assess three recent alternatives that try to justify endogenous utilization in Neo-Kaleckian models. All these contributions present different theoretical and empirical shortcomings that should be addressed in order to substantiate their claims.
期刊介绍：
The Review of Keynesian Economics (ROKE) is dedicated to the promotion of research in Keynesian economics. Not only does that include Keynesian ideas about macroeconomic theory and policy, it also extends to microeconomic and meso-economic analysis and relevant empirical and historical research. The journal provides a forum for developing and disseminating Keynesian ideas, and intends to encourage critical exchange with other macroeconomic paradigms. The journal is dedicated to the development of Keynesian theory and policy. In our view, Keynesian theory should hold a similar place in economics to that held by the theory of evolution in biology. Many individual economists still work within the Keynesian paradigm, but intellectual success demands institutional support that can leverage those individual efforts. The journal offers such support by providing a forum for developing and sharing Keynesian ideas. Not only does that include ideas about macroeconomic theory and policy, it also extends to microeconomic and meso-economic analysis and relevant empirical and historical research. We see a bright future for the Keynesian approach to macroeconomics and invite the economics profession to join us by subscribing to the journal and submitting manuscripts.
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