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Article Dans Une Revue Metroeconomica Année : 2017

Prototypes, reality and the growth of autonomous expenditures: a rejoinder

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Résumé

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.
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hal-01435724 , version 1 (15-01-2017)

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  • HAL Id : hal-01435724 , version 1

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Marc Lavoie. Prototypes, reality and the growth of autonomous expenditures: a rejoinder. Metroeconomica, 2017. ⟨hal-01435724⟩
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