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Tolerable ranges of variation in the rate of capacity utilization and corridor instability: a reply to Florian Botte

Mark Setterfield ()

No 1905, Working Papers from New School for Social Research, Department of Economics

Abstract: This reply to Botte (2019) responds to criticisms of the methods used to estimate the normal rate of capacity utilization and a tolerable interval of variation in the actual rate of capacity utilization around the normal rate in Setterfield (2019a). It concludes with some further reflections on the concept of corridor instability.

Keywords: Normal rate of capacity utilization; Harrodian instability; corridor instability (search for similar items in EconPapers)
JEL-codes: E11 E12 O41 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mac and nep-pke
Date: 2019-05
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http://www.economicpolicyresearch.org/econ/2019/NSSR_WP_052019.pdf First version, 2019 (application/pdf)

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