1. UNA EXPLICACIÓN NEO-KALECKIANA DE LA RELACIÓN BIDIRECCIONAL ENTRE CRECIMIENTO Y DISTRIBUCIÓN.
- Author
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Velázquez Orihuela, Daniel
- Subjects
- *
ECONOMIC expansion , *INCOME inequality , *KALECKIAN Model of Growth & Distribution , *INCOME redistribution , *INDUSTRIAL concentration , *SUSTAINABLE development , *WAGES - Abstract
A neo-kaleckian model is proposed to analyze the bidirectional relationship between growth and income distribution. To do this, the price equation of Kalecki (1971) is modified and the model of Bhaduri and Marglin (1990) is extended. If the growth is wage-led, then the income path is shown to be cyclical. In contrast, if it is profit-driven, it is sustained. In this last scenario, income is concentrated in profits because the profit rate is higher than the growth rate. Finally, it is argued that if the state redistributes income in a greater amount than the market concentrates it, wage-led growth can be sustained. [ABSTRACT FROM AUTHOR]
- Published
- 2022
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