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Revista de Economia Contemporânea

Print version ISSN 1415-9848On-line version ISSN 1980-5527

Abstract

MOREIRA, Vivian Garrido  and  SERRANO, Franklin. THE DEBATE ON THE ACCELERATOR EFFECT IN THE CONTROVERSY ABOUT THE SRAFFIAN SUPERMULTIPLIER MODEL. Rev. econ. contemp. [online]. 2019, vol.23, n.3, e192333.  Epub Nov 25, 2019. ISSN 1980-5527.  https://doi.org/10.1590/198055272333.

This paper discusses the theoretical requirements for the adjustment of productive capacity to demand, in the context of the controversy about the Sraffian supermultiplier growth model, that revolved basically around the assumption of a rigid accelerator. To some, this assumption would imply in the continuous full utilization of capacity, requiring demand to adjust to capacity. To others, it implied excessive sensitivity of investment to demand and instability. Recent developments, however, confirm that no assumption of a rigid accelerator is made, the model being fully compatible with a flexible accelerator and all the conditions required for demand led growth.

Keywords : effective demand; accelerator; supermultiplier.

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