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Distribution and growth in an economy with limited needs

Saint-Paul, Gilles - 2001

knowledge sector is bounded, as productivity increases, the economy moves from a "Solovian zone" where wages increase with … bliss point can only be made better-off by an increase in diversity. If wages are set by monopoly unions rather than set … employment in the material goods sector. International trade may reduce wages in poor countries and increase them in rich …

Persistent link: https://www.econbiz.de/10011401020

Distribution and growth in an economy with limited needs

Saint-Paul, Gilles - 2001

knowledge sector is bounded, as productivity increases, the economy moves from a Solovian zone where wages increase with … bliss point can only be made better-off by an increase in diversity. If wages are set by monopoly unions rather than set … employment in the material goods sector. International trade may reduce wages in poor countries and increase them in rich …

Persistent link: https://www.econbiz.de/10011398011

Distribution and Growth in an Economy with Limited Needs

Saint-Paul, Gilles - Institute for the Study of Labor (IZA) - 2001

Persistent link: https://www.econbiz.de/10005762377

Inequality, Openness, and Growth through Creative Destruction

Jäggi, Adrian; Schetter, Ulrich; Schneider, Maik T. - 2021

We examine how inequality and openness interact in shaping the long-run growth prospects of developing countries. To this end, we develop a Schumpeterian growth model with heterogeneous households and non-homothetic preferences for quality. We show that inequality affects growth very differently...

Persistent link: https://www.econbiz.de/10013244297

Inequality and growth : Marxian and post-Keynesian/Kaleckian perspectives on distribution and growth regimes before and after the Great Recession

Hein, Eckhard - 2018

The re-distribution of income from labour to capital, from workers to top-managers, and from low income households to the rich has been an important feature of financedominated capitalism since the early 1980s. After the Great Financial Crisis and the Great Recession in 2007-9, the recovery has...

Persistent link: https://www.econbiz.de/10011790517

Classical and Keynesian models of inequality and stagnation

Rada, Codrina; Tavani, Daniele; Von Arnim, Rudiger; … - 2022

This paper studies two formal models of long run growth with a medium-run distributive cycle, both of which feature causal links from the rise in inequality to a deterioration of long run macroeconomic performance. Both versions feature an endogenous income-capital ratio: one through the...

Persistent link: https://www.econbiz.de/10014327602

Management Compensation and Firm-Level Income Inequality

Frederiksen, Anders; Poulsen, Odile M. - 2021

In recent decades, most developed countries have experienced a simultaneous increase in income inequality and management compensation. In this paper, we study the relation between management compensation and firm-level income dynamics in a general equilibrium model. Empirical estimation, of the...

Persistent link: https://www.econbiz.de/10013324993

Varieties and interdependencies of demand and growth regimes in finance-dominated capitalism

Prante, Franz; Hein, Eckhard; Bramucci, Alessandro - 2021

We outline and simulate a stylised post-Keynesian two country stock-flow consistent model to demonstrate the interconnection of three of the main features/outcomes of finance-dominated capitalism, namely worsening income distribution for the bottom 90% households, the rise of international...

Persistent link: https://www.econbiz.de/10012696153

Autonomous government expenditure growth, deficits, debt and distribution in a neo-Kaleckian growth model

Hein, Eckhard - 2016

This paper is linked to some recent attempts at including a non-capacity creating autonomous expenditure category as the driver and determinant of growth into Kaleckian distribution and growth models. Whereas previous contributions have focussed on taming Harrodian instability, generated by the...

Persistent link: https://www.econbiz.de/10011459378

The limits to profit-wage redistribution : endogenous regime shifts in Kaleckian models of growth and distribution

Köhler, Kasper - 2018

redistribution from wages to profits and vice versa. This paper addresses the nonlinearity of the standard post-Kaleckian model by …-ledness" of an economy: redistribution towards wages reinforces the wage-led or profit-led character of an economy, while … redistribution towards profits does the opposite. In addition, redistribution towards wages can turn an intermediate regime wage …

Persistent link: https://www.econbiz.de/10011938664