Where do the Pasinetti Rule and the Pasinetti Index Come from
Bibliographic Data
| ID | 12229727 |
|---|---|
| Authors | Marc Lavoie (0000-0002-9942-1803, University of Ottawa, corresponding author), Mario Seccareccia (0000-0003-2719-7061, University of Ottawa) |
| Year | 2024 |
| Volume | 37 |
| Issue | 3 |
| Pages | 719-733 |
| Publication date | 2024-06-13 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Review of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0953-8259 • E-ISSN: 1465-3982 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/09538259.2024.2360505 |
| OpenAlex | W4399635970 |
| Language | EN |
| Citations received | 5 |
| References cited | 25 |
The article describes the origins of the Pasinetti index and Pasinetti rule and links both notions to debates over concerns regarding which socio-economic income group in a modern capitalist economy was being hurt and which broad income class was benefiting from the high interest rate policy, especially during the Volcker era of the 1980s. These were statistical constructs as well as distinct normative concepts that resulted from a close reading of Pasinetti's original writings published in 1980–81. The purpose of the Pasinetti index was to measure and monitor the actual transfer between the rentier and non-rentier sectors of an economy both cyclically and over the long term. As discussed in some detail, both authors of this article had directly participated in those debates and had basically initiated the early discussions around these concepts among post-Keynesians and other heterodox economists. The first part of our article, after the introduction, is primarily focused on what came to be called the Pasinetti rule, while the following section of the article recounts how the different variants of the Pasinetti index came to be constructed and used. We conclude with a discussion of the possible continued relevance of the Pasinetti norm in today's world
Econometrics · Economics · Index (typography · Macroeconomics · Norm (philosophy · Normative · Political science · Computer Science · Economic theories and models · Economic Theory and Institutions · Economic Theory and Policy · Law
Post-Keynesian Economics
Structural Economic Dynamics
Capital in the Twenty-First Century
Reciprocal Influences
Income Distribution, Rentiers, and Their Role in a Capitalist Economy
The Bank of Canada and the Modern View of Central Banking
The Political Economy of Interest-Rate Setting, Inflation, and Income Distribution
Structural Change and Economic Growth
On Concepts of Capital and Technical Change
| Unique citing works | 5 |
|---|---|
| Citations per year | 2,5 |
| Citation span | 2024 - 2025 (2) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 5 |