Proaño, Christian R.; Flaschel, Peter; Krolzig, Hans-Martin - In: Cambridge Journal of Economics 35 (2011) 3, pp. 569-585
In this paper we analyse the interaction of macroeconomic activity and the dynamics of real wages from a theoretical perspective. By means of a system-dynamic approach we investigate the economic viability of wage- and profit-led demand regimes by analysing not only the effect of real wages on...