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Nikiforos, Michalis - 2014

The paper examines the long-run fluctuations in growth and distribution through the prism of wage-and profit-led growth. We argue that the relation between distribution of income and growth changes over time. We propose an endogenous mechanism that leads to fluctuations between wage- and...

Persistent link: https://www.econbiz.de/10010513056

Induced shifting involvements and cycles of growth and distribution

Nikiforos, Michalis - 2019

The paper builds on the concept of (shifting) involvements, originally proposed by Albert Hirschman (2002 [1982]). However, unlike Hirschman, the concept is framed in class terms. A model is presented where income distribution is determined by the involvement of the two classes, capitalists and...

Persistent link: https://www.econbiz.de/10012142971

Demand, distribution, productivity, structural change, and (secular?) stagnation

Nikiforos, Michalis - 2020

The present paper emphasizes the role of demand, income distribution, endogenous productivity reactions, and other structural changes in the slowdown of the growth rate of output and productivity that has been observed in the United States over the last four decades. In particular, it is...

Persistent link: https://www.econbiz.de/10012610173

Income distribution and the multiplier: An exploration of nonlinear distribution effects in linear Kaleckian distribution and growth models

Prante, Franz J. - 2019

In this paper, I show that the income-autonomous demand multiplier of Keynesian-Kaleckian models is endogenous to … certain conditions, an important consequence from the distribution-sensitive multiplier is that a higher wage share can have …-Kaleckian macroeconomic models. After a theoretical discussion on the implications of the distribution-sensitive multiplier in basic closed …

Persistent link: https://www.econbiz.de/10012061718

The paradox of monetary profits: an obstacle to understanding financial and economic Crisis?

Bruun, Charlotte; Heyn-Johnsen, Carsten - 2009

problem, and neither did Keynes, who had to face the problem in “The General Theory”. A consequential logical conclusion to …

Persistent link: https://www.econbiz.de/10010299493

Money

Wray, L. Randall - 2010

possible. These three propositions are used to build a theory of money that is linked to common themes in the heterodox …'s approach, which relies on accounting identities; the K distribution theory of Keynes, Michal Kalecki, Nicholas Kaldor, and …

Persistent link: https://www.econbiz.de/10010286493

The (normal) rate of capacity utilization at the firm level

Nikiforos, Michalis - 2012

production increases. The theory of economies of scale provides justification for this kind of behavior. In this manner, the …

Persistent link: https://www.econbiz.de/10010318665

Causes and consequences of the financial crisis and the implications for a more resilient financial and economic system

Hein, Eckhard - 2016

The increasing dominance of finance starting in the late 1970s/early 1980s in the US and the UK, and somewhat later in other countries, was associated with two fundamental and structural processes generating the contradictions of this phase of development and finally the financial and economic...

Persistent link: https://www.econbiz.de/10011431825

Normal utilization as the adjusting variable in Neo-Kaleckian growth models: A critique

Girardi, Daniele; Pariboni, Riccardo - 2018

As well-known, the canonical Neo-Kaleckian growth model fails to reconcile actual and normal rates of utilization in equilibrium. Some recent contributions revive an old proposal for solving this problem - making the normal rate of utilization an endogenous variable that converges to the actual...

Persistent link: https://www.econbiz.de/10012059898

Autonomous demand and the investment share

Girardi, Daniele; Pariboni, Riccardo - 2018

This paper looks at the effect of demand shocks on the investment share of the economy. Using panel data on 20 OECD countries, we show that the rate of growth of autonomous demand (exports, public spending and housing investment) is positively correlated with subsequent values of the share of...

Persistent link: https://www.econbiz.de/10012059905