Profit rate, Cambridge equation and stability in Kaldor-Pasinetti models incorporating human capital and endogenous technological progress in the neoclassical production function

Renato Nozaki Sugahara and Joanna Georgios Alexopoulos

Chapter 5 in Income Distribution, Economic Growth and Unemployment, 2025, pp 99-126 from Edward Elgar Publishing

Abstract: Following Faria and Teixeira (1999), we reformulate the production function by incorporating human capital and endogenous technological progress. The results indicate that there are no alterations in the stability conditions of the Pasinetti model. However, from the production function, human capital and technological parameters demonstrate a direct relationship with the profit rate when an inverse relationship between a capitalist's savings and a long-term interest rate is considered. Therefore, the Cambridge equation is affected by technology in this kind of approach.

Keywords: Microfoundations; Distribution of Income; Stability (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035342556
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