Investment Cycles in Capitalist Economies: A Kaleckian Behavioural Contribution (New Directions in Modern Economics Series)
By: Jerry Courvisanos (author)Hardback
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This volume extends Michal Kalecki's investment cycle analysis into an integrated dynamic model of how levels of confidence affect investment decisions by entrepreneurs. Confidence is seen as susceptible to a range of factors, which alter over time to create different structures of investment at different periods of economic development. Using this susceptibility model, the author shows how corporate and governmental strategic planners can better design policies to mitigate the instability of investment patterns. Such policies are seen as capable of diminishing the aggravating effect that investment instability has on business cycles and employment in capitalist economies.
Introduction - need for a theory of investment cycles; Kaleckian analysis of investment - a review; investment under uncertainty - behavioural and evolutionary views; institutional behaviour of firms; the susceptibility cycle - an endogenous model; exogenous factors affecting susceptibility; long-run empirical patterns of cyclical investment; policy implications and future directions.
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- ID: 9781858984100
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