We present a dynamic model of capacity utilization and growth which takes into due account the joint determination of the international competitiveness (measured by the real exchange rate) and functional income distribution. It follows that how distribution, capacity utilization and growth vary...

This paper focuses on the role of the production and trade structures in shaping conflicting claims over income shares and the dynamics of the real exchange rate in a Neo-Kaleckian macroeconomic model of growth and distribution. In the medium run, the economy adjusts to comply with two...

We develop a dynamic model of capacity utilization and growth taking into account the codetermination of international competitiveness (measured by the real exchange rate) and income distribution. It follows that distribution, capacity utilization, and growth vary with the real exchange rate...