IDEAS home Printed from https://ideas.repec.org/a/eee/jeborg/v65y2008i3-4p547-554.html
   My bibliography  Save this article

Pasinetti versus Rebelo: Two different models or just one?

Author

Listed:
  • D'Alessandro, Simone
  • Salvadori, Neri

Abstract

Pasinetti's [Pasinetti, L.L., 1960. A mathematical formulation of the Ricardian system. Review of Economic Studies 27, 78-98] model formalizing Ricardian growth theory and one of the simplest models developed within the 'new' growth theory [Rebelo, S., 1991. Long run policy analysis and long run growth. Journal of Political Economy 99, 500-521] are shown to share the same structure. This enforces the thesis according to which many endogenous growth models have a 'Classical' flavour. The main difference from Pasinetti's to Rebelo's framework may be interpreted as reflecting the change in the consumption pattern of workers from early to late industrial societies.

Suggested Citation

  • D'Alessandro, Simone & Salvadori, Neri, 2008. "Pasinetti versus Rebelo: Two different models or just one?," Journal of Economic Behavior & Organization, Elsevier, vol. 65(3-4), pages 547-554, March.
    • Handle: RePEc:eee:jeborg:v:65:y:2008:i:3-4:p:547-554
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0167-2681(06)00208-3
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Rebelo, Sergio, 1991. "Long-Run Policy Analysis and Long-Run Growth," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 500-521, June.
    2. F. H. Hahn, 1975. "Revival of Political Economy: The Wrong Issues and the Wrong Argument," The Economic Record, The Economic Society of Australia, vol. 51(3), pages 360-364, September.
    3. repec:bla:ecorec:v:51:y:1975:i:135:p:360-64 is not listed on IDEAS
    4. Luigi L. Pasinetti, 1960. "A Mathematical Formulation of the Ricardian System," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 27(2), pages 78-98.
    5. Whelan, Karl, 2003. "A Two-Sector Approach to Modeling U.S. NIPA Data," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 35(4), pages 627-656, August.
    6. Morishima, M, 1996. "Morishima on Ricardo: Two Replies," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 20(1), pages 91-109, January.
    7. Felbermayr Gabriel J & Licandro Omar, 2005. "The Underestimated Virtues of the Two-sector AK Model," The B.E. Journal of Macroeconomics, De Gruyter, vol. 5(1), pages 1-19, September.
    8. Kurz, Heinz D & Salvadori, Neri, 1992. "Morishima on Ricardo: Review Article," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 16(2), pages 227-247, June.
    9. Charles I. Jones, 1995. "Time Series Tests of Endogenous Growth Models," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 110(2), pages 495-525.
    10. Kurz,Heinz D. & Salvadori,Neri, 1997. "Theory of Production," Cambridge Books, Cambridge University Press, number 9780521588676, September.
    11. Neri Salvadori, 1998. "A Linear Multisector Model of “Endogenous” Growth and the Problem of Capital," Metroeconomica, Wiley Blackwell, vol. 49(3), pages 319-335, October.
    12. Kurz, Heinz D & Salvadori, Neri, 1998. "Morishima on Ricardo: A Rejoinder," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 22(2), pages 227-239, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bilancini, Ennio & D'Alessandro, Simone, 2012. "Long-run welfare under externalities in consumption, leisure, and production: A case for happy degrowth vs. unhappy growth," Ecological Economics, Elsevier, vol. 84(C), pages 194-205.
    2. Rodríguez-Arana, Alejandro, 2014. "Política fiscal, expectativas y transición dinámica en el modelo simple de crecimiento endógeno," Panorama Económico, Escuela Superior de Economía, Instituto Politécnico Nacional, vol. 0(18), pages 7-32, primer se.
    3. Neri Salvadori & Rodolfo Signorino, 2017. "From endogenous growth to stationary state: The world economy in the mathematical formulation of the Ricardian system," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 24(3), pages 507-527, May.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ejargque, Joao & McKnight, Stephen, 2006. "Can we identify the relative price between consumption and investment?," Economics Discussion Papers 8904, University of Essex, Department of Economics.
    2. Freni, Giuseppe & Salvadori, Neri & Signorino, Rodolfo, 2019. "Structural change in a Ricardian world economy: The role of extensive rent," Structural Change and Economic Dynamics, Elsevier, vol. 49(C), pages 277-282.
    3. Heinz D. Kurz, 2011. "The Contributions of Two Eminent Japanese Scholars to the Development of Economic Theory: Michio Morishima and Takashi Negishi," Chapters, in: Heinz D. Kurz & Tamotsu Nishizawa & Keith Tribe (ed.), The Dissemination of Economic Ideas, chapter 13, Edward Elgar Publishing.
    4. Fausto Gozzi, 2012. "Mathematical Tools for Economic Dynamics: Dynamic Optimization," Discussion Papers 19_2012, CRISEI, University of Naples "Parthenope", Italy.
    5. Bishnu, Monisankar & Ghate, Chetan & Gopalakrishnan, Pawan, 2016. "Factor income taxation, growth, and investment specific technological change," Economic Modelling, Elsevier, vol. 57(C), pages 133-152.
    6. Bertola, Giuseppe, 2000. "Macroeconomics of distribution and growth," Handbook of Income Distribution, in: A.B. Atkinson & F. Bourguignon (ed.), Handbook of Income Distribution, edition 1, volume 1, chapter 9, pages 477-540, Elsevier.
    7. Heinz D. Kurz & Tamotsu Nishizawa & Keith Tribe (ed.), 2011. "The Dissemination of Economic Ideas," Books, Edward Elgar Publishing, number 14521.
    8. Ariel Dvoskin & Saverio M. Fratini, 2016. "On the Samuelson–Etula Master Function and the capital controversy," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 23(6), pages 1032-1058, November.
    9. Kurz, Heinz D., 2010. "The Contributions of Two Eminent Japanese Scholars on the Development of Economic Theories: Michio Morishima and Takashi Negishi," MPRA Paper 20430, University Library of Munich, Germany.
    10. Barañano, Ilaski & Romero-Ávila, Diego, 2015. "Long-term growth and persistence with obsolescence," Economic Modelling, Elsevier, vol. 51(C), pages 328-339.
    11. Esa Mangeloja, 2004. "Interrelationship of economic growth and regional religious properties," ERSA conference papers ersa04p94, European Regional Science Association.
    12. Benjamin Montmartin & Nadine Massard, 2015. "Is Financial Support For Private R&D Always Justified? A Discussion Based On The Literature On Growth," Journal of Economic Surveys, Wiley Blackwell, vol. 29(3), pages 479-505, July.
    13. Heinz D. Kurz & Neri Salvadori, 2011. "In Favor of Rigor and Relevance: A Reply to Mark Blaug," History of Political Economy, Duke University Press, vol. 43(3), pages 607-616, Fall.
    14. Dalgaard, Carl-Johan & Erickson, Lennart, 2009. "Reasonable Expectations and the First Millennium Development Goal: How Much Can Aid Achieve?," World Development, Elsevier, vol. 37(7), pages 1170-1181, July.
    15. Sushil Kumar Haldar, 2009. "Economic Growth in India Revisited," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 10(1), pages 105-126, January.
    16. Pozzolo, Alberto Franco, 2004. "Endogenous Growth in Open Economies - A Survey of Major Results," Economics & Statistics Discussion Papers esdp04020, University of Molise, Department of Economics.
    17. Samuel de Abreu Pessôa, 2001. "Um Modelo de Acumulação de Capital Físico e Humano: Um Diálogo Com a Economia do Trabalho," Anais do XXIX Encontro Nacional de Economia [Proceedings of the 29th Brazilian Economics Meeting] 035, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    18. William Easterly & Ross Levine, 2002. "It´s Not Factor Accumulation: Stylized Facts and Growth Models," Central Banking, Analysis, and Economic Policies Book Series, in: Norman Loayza & Raimundo Soto & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Editor) (ed.),Economic Growth: Sources, Trends, and Cycles, edition 1, volume 6, chapter 3, pages 061-114, Central Bank of Chile.
    19. repec:got:cegedp:24 is not listed on IDEAS
    20. Huh, Hyeon-seung & Kim, David, 2013. "An empirical test of exogenous versus endogenous growth models for the G-7 countries," Economic Modelling, Elsevier, vol. 32(C), pages 262-272.
    21. Kapetanios, George & Millard, Stephen & Price, Simon & Petrova, Katerina, 2018. "Time varying cointegration and the UK Great Ratios," Essex Finance Centre Working Papers 23320, University of Essex, Essex Business School.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jeborg:v:65:y:2008:i:3-4:p:547-554. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jebo .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.