Abstract

LORENTE, Luis. MODELOS DE CRECIMIENTO. UNA INTERPRETACIÓN KEYNESIANA. Cuad. Econ. [online]. 2004, vol.23, n.40, pp.29-53. ISSN 0121-4772.

The standard models of growth theory stress the role of saving as the main explanation for the accumulation process. The Keynesian tradition states that saving is a simple residue from investment decisions and that accumulation derives from effective demand. This does not represent consumers’ buying capacity but rather the sum of managers’ production decisions. Standard growth models can be reinterpreted as components of a Keynesian model where growth is determined by effective demand.

Keywords : growth theory; neoclassical growth model; Keynesian growth model; effective demand; aggregation; distribution.

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