The Economic Growth and the Conjuncture Cycle in the Keynesian Models

Vera Pirimova

Economic Thought journal, 2011, issue 5, 3-20

Abstract: The economic growth concepts are founded on the Keynesian and Neoclassical theories and models. This is also the basis for the two key, most applicable alternative methodological approaches for analyzing the main characteristic features and vehicles of growth – the multiplicator – accelerator and the production function respectively. In theory and out of the empiric application of the model constructions it was concluded, that they are highly adaptable, capable to test each growth trajectory – permanent ascending and even, and wavy or cyclic. The Keynesian, Neoclassical and the contemporary growth models could be interpreted on this ground under certain assumptions or they could be further developed as conjuncture cycle models. The focus is on the main trends of the alternative applicability of the Keynesian methodology for growth analysis, in order to deduce opportuntities to study the key indications of unsustainable nature and the conjuncture cyclic trend in GDP dynamics.

JEL-codes: E12 O40 (search for similar items in EconPapers)
Date: 2011
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