In a stock-flow consistent neo-Kaleckian macro-model, along with worker households' debt dynamics, in the long-run, we incorporate distributional dynamics and demonstrate the possibility of multiple equilibria. Dynamic stability of the economy is also examined. Both debt-led and debt-burdened...

In a stock-flow consistent neo-Kaleckian growth-model, we endogenize the dividend rate and debt-level in the long run and investigate the possibility of multiple equilibria and instability in the economy. We find that the economy is in a wage-led demand and debt-burdened growth regime. However,...

Constructing a post-Keynesian growth model, we try to explore how the interaction between capital accumulation and government debt opens up the possibility of multiple equilibria and instability in the economy. We investigate the impact of various parameters such as different tax rates, savings...

Considering a stock-flow consistent neo-Kaleckian macro-model, along with firms' debt dynamics, in the long-run, we incorporate portfolio dynamics of rentiers and investigate the possibility of multiple equilibria and dynamic stability of the economy. Both the debt-led and the debt-burdened...

In post-Keynesian literature, Hein (2012a) was the first to incorporate financialization as an influential positive determinant of the rate of technological change. However, financialization is more like a two-edged sword which can affect technological progress negatively as well. We capture...

We construct a broad R&D-based endogenous growth model that incorporates the importance of children's health on human capital accumulation and publicly-funded basic research investments required to produce new goods. Although an increment in the number of healthcare professionals creates a...

We construct a broad R&D-based endogenous growth model that incorporates the importance of children's health on human capital accumulation and publicly-funded basic research investments required to produce new goods. Although an increment in the number of healthcare professionals creates a...

In a post-Keynesian growth model with positive saving propensity out of wages, in this paper we analyze the implication of different kinds of government expenditures on aggregate demand and economic growth. We distinguish government expenditure into consumption and investment expenditure. The...

Motivated by the prevailing severe situation in India, we extend the SIR(S) model of infectious diseases to incorporate demand dynamics and its interaction with Covid-19 spread. We argue that, on one hand, spread of Covid-19 creates panic among consumers and firms and negatively affects economic...

In post-Keynesian literature, Hein (2012a) was the first to incorporate financialization as an influential positive determinant of the rate of technological change. However, financialization is more like a two-edged sword which can affect technological change negatively as well. We capture both...