Distribution and Growth

Steindl, Josef

Bibliographic data

Works

Document type:: Works

Collection:: Josef Steindl Collection

Title:: Distribution and Growth

Author:: Steindl, Josef

Scope:: Typoskript, 19 Blätter; mit handschrifltichen Anmerkungen und Ergänzungen sowie 1 Notizblatt mit handschriftlichem Text, geheftet.

Year of publication:: ohne Datum

Language:: English

Description:: Steindl analyses the relation of distribution and growth starting with the nature and the process of long-term development.

Note:: Notizblatt mit dem Titel "Include in the lecture on distribution".

Related work:: Steindl, Josef: Distribution and Growth. In: Steindl. Josef: Economic Papers 1941-88. London: Macmillan, 1990, S. 328-355 Steindl, Josef: Distribution and Growth. In: Political Economy. Studies in the Surplus Approach, Vol. 1, Issue 1, 1985, S. 53-68

Topic:: Saving and distribution

JEL Classification:: O11 [Macroeconomic Analyses of Economic Development]

Shelfmark:: S/M.71.4

Access:: Free access

Chapter

Document type:: Chapter

Title:: Distribution and Growth.

Access:: Free access

1a Let us take for example a difference equation of the second order which will represent the cycle provided the parameters have the right sign and are within the right range. On the right hand side we put a growth term, an exponential term; in order to prevent the damping of the cycle we ought to have also a term representing random shocks; they will simply produce new initial conditions again and again and thereby change the phase and amplitude of the cycle. For the purposes of the following discussion we can leave out this term. The equation is thus A y(t) + B y(t-1 ) + C y(t-2) = c ( 1 + g )* (1) There will be a particular solution representing the trend. This solution in full is y(t) = c( 1+g A(l+gf+B(1+g)+C ( 1 + g } The parameters of the equation A,Band C do not affect the direction of the trend which is given by g. Thus the trend is entirely imposed from outside, it is purely historical and independent of the internal structure of the economy ( such as,for example, the distribution of income or the response of investment decisions to a change in profits or in utilisation ).

Works

Chapter

Table of contents

Cite and reuse

Works

Chapter

Image

Image fragment

Citation links

Citation recommendation