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- W1930596280 abstract "We build a bisector reproduction model with Classical features in which the capitalists aim at maximizing accumulation. At variance with gravitation models, it is assumed that they invest their profits in their own industry. Their plans are based on actual productions and expected prices. Effective prices and effective allocations of resources are determined by a market-clearing mechanism. A law on the formation of expectations allows us to define the dynamics of disequilibria, which let appear endogenous self-sustained fluctuations around a long-run path. The long-run rate of growth and the amplitude of the fluctuations depend on the initial conditions." @default.
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- W1930596280 date "2012-03-05" @default.
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- W1930596280 title "REPRODUCTION AND TEMPORARY DISEQUILIBRIUM: A CLASSICAL APPROACH" @default.
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- W1930596280 doi "https://doi.org/10.1111/j.1467-999x.2012.04157.x" @default.
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