Whose saving behavior really matters in the long run? The Pasinetti (irrelevance) theorem revisited

Gilberto Lima

Nova Economia, 2003, vol. 13, issue 2, 11-36

Abstract: This review paper is intended to outline some of the main qualitative theoretical issues involved in the debates on the results emerging from the Pasinetti (irrelevance) theorem, which is an important element of the post-Keynesian approach to growth and distribution. Firstly, it is briefly described the Cambridge (U.K.) vs Cambridge (U.K.) controversy following the publication of the original works by Kaldor and Pasinetti. It is then reviewed the subsequent Cambridge (U.S.) vs Cambridge (U.K.) exchange between Samuelson and Modigliani, on one side, and Pasinetti, Robinson, and Kaldor on the other side.

Keywords: saving behavior; growth; distribution (search for similar items in EconPapers)
JEL-codes: B22 E22 E25 (search for similar items in EconPapers)
Date: 2003
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