For many years, there was an unanswered question among non-mainstream scholars: What’s the behaviour through time of capacity utilisation after an aggregate demand shock? Following the Classical-Keynesian approach, in this thesis I revise critically the literature on the relationship between output and capacity utilisation and how capacity adjust to the former. After that, I present empirical evidence on the effect of output and capacity utilisation; transitory effects seem to be the rule, rather than the exception. Finally, I try to understand whether it was demand, among many other factors, the main determinant that explains the declining trend in the utilisation of installed capacity in the United States.

Three essays on effective demand and capacity utilisation / Gahn, Santiago Josè. - (2021 Oct 01).

Three essays on effective demand and capacity utilisation

GAHN, Santiago Josè
2021-10-01

Abstract

For many years, there was an unanswered question among non-mainstream scholars: What’s the behaviour through time of capacity utilisation after an aggregate demand shock? Following the Classical-Keynesian approach, in this thesis I revise critically the literature on the relationship between output and capacity utilisation and how capacity adjust to the former. After that, I present empirical evidence on the effect of output and capacity utilisation; transitory effects seem to be the rule, rather than the exception. Finally, I try to understand whether it was demand, among many other factors, the main determinant that explains the declining trend in the utilisation of installed capacity in the United States.
Growth theory, capacity utilisation Neo-Kaleckian model, Sraffian Supermultiplier
Three essays on effective demand and capacity utilisation / Gahn, Santiago Josè. - (2021 Oct 01).
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11586/406755
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