The aim of this short article is to build a model in order to take into account capital scrapping (or bankruptcies) in an income distribution and growth model. The reason to introduce capital scrapping results from the intuition of some inconsistencies between theoretical predictions and...

In this article, we propose a simple Post Keynesian model so as to test whether French economy is wage or profit-led i.e. whether a wage share increase has a negative or positive impact on economic growth. In that perspective, we estimate econometrically the three behaviour equations of our...

Book review: Liêm Hoang-Ngoc "Le fabuleux destin de la courbe de Phillips. Les théories de l'inflation et du chômage après Keynes"

This article presents a Kaleckian model enriched by introducing autonomous public expenditure which grows at an exogenous rate. It shows that the usual properties are not affected in the short run: growth is wage-led. But long run properties are strongly affected: public expenditure plays a role...

This article presents a Kaleckian model enriched by introducing autonomous public expenditure which grows at an exogenous rate. It shows that the usual properties are not affected in the short run: growth is wage-led. But long run properties are strongly affected: public expenditure plays a role...

Recent papers have reconsidered the paradox of profits, that is the difficulty to explain how monetary profits can be generated when firms borrow only the wage bill to finance their production. In this article, we use a stock-flow consistent approach give a solution to this paradox assuming...

Keynes' principle of effective demand constitutes a pillar for Post Keynesians theories. But Keynes' presentation remains difficult to interpret, mainly because the aggregate demand function is based on entrepreneurs' expectations. The problem is then to demonstrate how these entrepreneurs...

Selon l'économie orthodoxe, les politiques de modération salariale sont un moyen privilégié pour favoriser la croissance et l'emploi. Les versions récentes du modèle (néo-)kaleckien remettent en cause cette affirmation. Nous présentons et discutons ce modèle dans sa forme canonique,...

A panel session was organised at the 5th "Dijon" Post-Keynesian Conference (Roskilde University - 13th-14th May 2011) in order to confront three recent interpretations of Keynes's principle of effective demand: that of Hartwig (2007), Hayes (2007) and Allain (2009). Allain's comments on Hartwig...

For some Post Keynesian economists, functional income distribution affects economic activity and growth through its effects on investment, consumption and net exports. This study focuses on econometric issues about the consumption function. Post Keynesians generally fail to find a long-run...