Search

Your search keyword '"*KALECKIAN Model of Growth & Distribution"' showing total 1 results
Start Over Descriptor "*KALECKIAN Model of Growth & Distribution" Topic demand Topic keynesian economics Language english
1 results on '"*KALECKIAN Model of Growth & Distribution"'

1. Goodwin or Kalecki in Demand? Functional Income Distribution and Aggregate Demand in the Short Run.

Author

Stockhammer, Engelbert and Stehrer, Robert

Subjects
*MARXIAN economics, *KALECKIAN Model of Growth & Distribution, *GOODWIN model, *KEYNESIAN economics, *INCOME inequality, *ECONOMIC demand
Abstract

In a seminal paper on Marxian business cycle theory, Goodwin (1967) presented a model which assumed that a higher wage share leads to lower investment and thus a general economic slowdown. In contrast Kalecki (1971) was arguing that a higher wage share would have an expansionary effect because the consumption propensity out of wage income is higher than that out of profit income. Based on a general model that allows for wage-led as well as profit-led demand regimes, this paper estimates the effects of a change in the wage share on aggregate private domestic demand with quarterly data for 12 OECD countries.JEL classification: E11, E12, E20, E22, E25 [ABSTRACT FROM PUBLISHER]

Published
2011
Full Text
View/download PDF

Catalog

Books, media, physical & digital resources
See catalog results