Saving and Investment Financing: Different Approaches
Claudio Sardoni ()
Review of Political Economy, 2020, vol. 32, issue 3, 474-480
Lavoie and Zezza (2020. “A Simple Stock-Flow Consistent Model with Short-Term and Long-Term Debt.” Review of Political Economy, forthcoming.) present a stock-flow consistent model which critically refers to a recent work of mine (Sardoni, C. 2019. “Investment and Saving in a Dynamic Context: The Contributions of Athanasios (Tom) Asimakopulos.” Review of Political Economy 31 (2): 233–246.) concerned with the complex relation between saving, interest rates, finance and investment. This paper comments on Lavoie’s and Zezza’s interpretation of Sardoni’s position and results and, in turn, presents some critical observations about Lavoie’s and Zezza’s own model. The focus is on the relation between the marginal propensity to save and the long-term interest rate.
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