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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/10011141194
[Part I] This volume begins with an introduction to Marx's theory of capitalism in his own words, with his examples … modernized from use of shillings and pence as subdivisions of the Pound. [Part II] Well-known work in 1901 on the theory of …. Several theories of inflation theory are reviewed, with focus on the agencies causing inflation. A rediscovery of Marxian …
Persistent link: https://www.econbiz.de/10011193717
theory and considers implications for the current crisis. Paul Zarembka extends, theoretically and empirically, Marx …
Persistent link: https://www.econbiz.de/10011193718
This paper explores the Marxian genetic root of the multiplier in order to clarify its foundations and validity …-Keynes multiplier. …
Persistent link: https://www.econbiz.de/10008693516
In this essay, the theoretical background represented by the classical theory of income distribution and the Keynesian … perspective moves away from the neo-kaleckian growth theory, according to which the equilibrium between savings and investment in …
Persistent link: https://www.econbiz.de/10011168680
Kaleckian model of growth and distribution. We provide an exposition of the underlying theory of wage- and profit-led growth. We …
Persistent link: https://www.econbiz.de/10011196539
evidence in the theory and the empirical research that justify this behavior of returns to scale. In that way the desired rate …
Persistent link: https://www.econbiz.de/10011196548
In a seminal paper on Marxian business cycle theory, Richard Goodwin (1967) presented a model which assumed that a …
Persistent link: https://www.econbiz.de/10008500871
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/10010627288
Following Lavoie et al. (2004), this paper empirically assesses four investment functions closing the Kaleckian baseline model in the long-run: (a) the Naive-Kaleckian specification without any long-run adjustment; (b) the Intermediate-Kaleckian specification with an endogenous adjustment of the...
Persistent link: https://www.econbiz.de/10008871183