Wachstum, Kreislaufgleichgewicht und Vollbeschäftigung Zum Problem der Stabilität des „Harrod-Domar-Modells“

A basic model of real growth with a fixed production coefficient of capital is extended to a Domar- and Harrod-type model. The latter includes alternative hypotheses about distribution of real income and variability of the accelerator. The Domar-type model shows the possibility of equilibrium growth, therefore no problem of stability exists at all. In the Harrod-type model with a fixed accelerator the variables and its growth rates develop over time subject to initial conditions concerning employment, effective demand, and the difference between the marginal capital-output ratio and the accelerator. Growth rates are constant or converge against a constant, which may be the equilibrium growth rate, but market equilibrium and full employment together are only realized on the equilibrium path of growth. In the Harrod-type model with a variable accelerator growth paths with initial conditions whatever may converge to short run (market) and long run equilibrium (full employment and constant growth rates) as wel