International Conference
Sraffa's Production of Commodities by Means of Commodities 1960-2010.
2nd-4th December 2010, Roma Tre University, Faculty of Economics
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Comment: V. Maffeo
Discussion after the comment
Answer of Palumbo
Abstract
En el documento se explora las diferentes definiciones potential product found in the literature, given its relevance for policy. First, it addresses the theoretical change in the mainstream literature, the Keynesian idea of \u200b\u200bpotential output as a ceiling of actual production to the idea of \u200b\u200ba permanent tendency to gravitate toward actual production potential output and the empirical counterpart of the change as regards the manner in which estimates of potential output is constructed. It then explores the complex relationship between actual and potential theories of demand growth. Finally, tentatively address the issue of the possible relationships between output and inflation in a classical-Keynesian theoretical framework.
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