Brief von Josef Steindl an Stanisław Gomułka

Steindl, Josef

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Document type:: Correspondence

Collection:: Josef Steindl Collection

Title:: Brief von Josef Steindl an Stanisław Gomułka

Author:: Steindl, Josef

Recipient:: Gomułka, Stanisław

Scope:: Typoskript, 1 Blatt

Place of publication:: Wien

Year of publication:: 1976-12-07

Source material date:: 7th Dec.1976

Language:: English

Note:: Durchschlag.

Shelfmark:: S/B.818

Correspondence partner:: Gomułka, Stanisław Steindl, Josef

DOI:: https://doi.org/10.48671/nls.js.1538566070393

Vienna, 7th Dec.1976 Dear Dr '■'omulka, W orry to delay my answer. It seems to me there can he no objection to your way of writing the equation because it is only in notation different from Kalecki’s equation in Th Ec Dyn. You choose the Lag between saving SHI pr fit and investment as uiit of time, while in Kalecki's general f^rmulti n y>ur h is the time unit and the above lag is called 0 The 1962 paper is a pecial case with <* =1 It is intuitively clear that the expl sive oha*acter of the diff diff.equati n will be shared by the difference g|U|t£oij v .lue A provided the lag is small en ugh If y-u have found the lixli this is certainly interesting f r the interpretatio f Kaleclci. He assumes 0 t o be between one and one half years and in his statistical calculation ( p 111,Table 20 ) the time unit (your h) seems to be one year. That wuld put him in the safe zone, f if you are right in sx giving h=*l/2 as the critical value f h. nevertheless your results are valuable in the context. Yours,

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