The Ricardian System. A Graphical Exposition

Rodolfo Signorino, Neri Salvadori

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3 Citazioni (Scopus)


Ever since its publication, Pasinetti’s 1960 paperhas been a primary reference for all scholars interested in Ricardian economics.However, Kaldor's 1955-6 diagram is a very effective tool for depicting the salientfeatures of the Ricardian system and its full heuristic potentialities are stillunder-explored. Accordingly, we give it pride of place in this paper. In whatfollows, after a brief presentation of a slightly amended version of Kaldor’soriginal diagram, we show how this diagram may be modified to represent Pasinetti’stwo-sector model of a closed economy. Next we use it to analyse alternativeconsumption patterns. Finally, we employ a variant of Kaldor’s diagram tostudy a two-sector model of an open economy. In a first stage, we study a small open economy facing given international commodity prices; in a second stage,we study the world economy in which international trade takes place amongseveral small open economies.
Lingua originaleEnglish
Titolo della pubblicazione ospiteRicardo and International Trade
Numero di pagine22
Stato di pubblicazionePublished - 2017

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All Science Journal Classification (ASJC) codes

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  • ???subjectarea.asjc.1400.1400???


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