Showing 1 - 10 of 6,435
This paper explores the interaction between corporate ownership concentration and privatesavings, and by extension, the current account balance in Germany. As high corporate savingslargely reflected capital income accruing to wealthy households and increasingly retained inclosely-held firms, the...
Persistent link: https://www.econbiz.de/10012828236
The emphasis in post-Keynesian macroeconomics on wage- versus profit- led growth may not have been helpful. The profit share is not an exogenous variable, and the correlations between the pro.t share and economic growth can be positive for some exogenous shocks but negative for others. The...
Persistent link: https://www.econbiz.de/10011522218
We analyse the link between income distribution and the current account through a descriptive analysis for the G7 countries and a series of panel estimations for the G7 countries and a larger sample of 20 countries for the period 1972-2007. We find that, firstly, rising personal inequality leads...
Persistent link: https://www.econbiz.de/10010201632
When economic integration fosters expectations of productivity convergence, capital flows are driven by consumption-smoothing anticipation of income growth patterns as well as by factor-intensity equalization. In the euro area, financial integration eased accumulation of international...
Persistent link: https://www.econbiz.de/10011083858
Early research has documented that the large scale equity market liberalizations of the last decade led the subsequent rise in aggregate equity indices, investment booms, capital flows and economic growth. An important and unaddressed issue is the normative question of whether and how these...
Persistent link: https://www.econbiz.de/10014120173
Early research has documented that the large scale equity market liberalizations of the last decade led the subsequent rise in aggregate equity indices, investment booms, capital flows and economic growth. An important and unaddressed issue is the normative question of whether and how these...
Persistent link: https://www.econbiz.de/10014123604
Abstract We study the distributional and welfare implications of U.S. monetary policy shocks in a small open economy under the classic rules of an exchange rate peg and inflation targeting. In a model with heterogenous agents, we show that contractionary (expansionary) monetary policy shocks in...
Persistent link: https://www.econbiz.de/10013242240
A simple classical-Marxian model of growth and distribution is developed in which education transforms low-skilled workers into high-skilled ones and in which high-skilled workers save and hold capital, therefore receiving both high-skilled wages and profit income. We analyze the implications...
Persistent link: https://www.econbiz.de/10011596528
Persistent link: https://www.econbiz.de/10001645263
Persistent link: https://www.econbiz.de/10014635330