Weintraub's consumption coefficient: response to Robert Dixon

The paper responds to a note by Robert Dixon that in an earlier paper we had mistakenly argued that Weintraub's consumption coefficient enhances Kalecki's model and helps to elucidate trends in the secular and functional distributions of income. We demonstrate the conditions under which our original claims for the use of the consumption coefficient are satisfied. Ultimately, whether or not the coefficient is a useful construct is an empirical issue. Copyright 2002, Oxford University Press.