Instabilità harrodiana e teoria della crescita endogena

Author/s Giulio Guarini
Publishing Year 2008 Issue 2007/91 Language Italian
Pages 26 P. 91-116 File size 294 KB
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Theory In this article, I study the harrodian instability in the growth processes with mainstream production functions, analyzing three important approaches: Lucas (1988), Rome (1990), Grossman-Helpman (1991). After describing that harrodian instability is important for the economic growth but it is absent in these models, I build new models with the same mainstream production functions to analyze the convergence process between the warranted growth rate and the natural growth rate when the interest rate changes. Finally, for these models, I write the sraffian system with heterogeneous capital goods and I show that the convergence process can have infinitive states and solutions caused by infinitive states of the relation between interest rate and capital intensity like multiple equilibrium, nonexistence of equilibrium and instability of equilibrium. Keywords: Harrodian Instability, Endogenous Growth Model, Cambridge Capital Controversy

Giulio Guarini, Instabilità harrodiana e teoria della crescita endogena in "STUDI ECONOMICI " 91/2007, pp 91-116, DOI: