Stockhammer, Engelbert; Michell, Jo - Post Keynesian Economics Study Group - PKSG - 2014
income distribution. The paper proposes the concept of a pseudo-Goodwin cycle. We define this as a counter-clockwise movement … distribution. But the model does exhibit a pseudo-Goodwin cycle in the output-wage share space. This holds true even if we … share cannot be regarded as proof of the existence of a Goodwin cycle and a profit-led demand regime. …