increasing globalisation. In this paper we extend this type of analysis and integrate the effects on productivity growth …, theoretically and empirically. Productivity growth is introduced into the theoretical model making use of the Verdoorn effect or of … Kaldor's technical progress function and hence of a positive relationship between GDP or capital stock growth and …

This paper discusses the financial sustainability of demand-led growth models. We assume a supermultiplier growth model … in which household consumption is the autonomous component of demand that drives growth and discuss the financial … sustainability of such dynamics of growth from the perspective of the working households. We show that for positive rates of growth …

profit in a simple post-Kaleckian distribution and growth model. This model gives rise to different potential accumulation … regimes depending on the values of the parameters in the investment, saving and distribution function. Estimating these core … increasing profit share in both countries. -- Interest rate ; distribution ; demand ; capital accumulation ; Kaleckian model …

functional distribution of income. Interest rates directly and indirectly affect the equilibrium rates of capacity utilization …

This paper presents a simple illustrative post-Kaleckian model of distribution and growth that incorporates personal … income inequality can potentially have contrary effects on aggregate demand and growth. It can illustrate some of the major … cascades from the very top to the very bottom of the distribution. For Germany, we fail to find compelling evidence for …

assess short-term regimes of aggregate demand and distribution in Germany. The obtained Impulse Response Functions (IRFs) of …

This chapter reviews empirical estimates of differential income and consumption growth across individuals during … recessions. Most existing studies examine the variation in income and consumption growth across individuals by sorting on ex ante … prior to the recession, these same zip codes saw high house price growth, a substantial expansion of debt by homeowners, and …

In this paper we discuss the relationship between the current account rebalancing in the Eu-rozone, income distribution … recently been obtained in the empirical literature estimating the German demand and growth regime based on post …-Kaleckian models. We will focus in particular on the relationship between nominal wages and functional income distribu-tion, on the one …