Growth Theory and the Growth Model Perspective: Insights from the Supermultiplier

Recently, demand-led growth theories reshaped the study of comparative political economy. Since Baccaro and Pontusson critique Varieties Capitalism, a new wave studies has sought to analyze national economies in terms their main demand drivers growth. Post-Keynesian authors provided extensions perfect fit between We argue that Sraffian supermultiplier provides theory compatible with model perspective advanced by advantages over Kaleckian New Keynesian approaches. The concept autonomous demand, which comprises government spending, export, debt-financed consumption, is already central for models, coherently understands relation other induced components demand. demonstrate our arguments decomposing four economies: United States, Germany, Japan, Sweden. decomposition shows importance separating from highlights relevance public expenditures exports as economies.