In the present paper we explicitly introduce interest payments and debt into a Kaleckian distribution and growth model with an investment function very close to Kalecki’s original writings. The effects of interest rate variations on the short-run equilibrium values of capacity utilisation,...

We present evidence of the relationship between trade-openness and growth in the sample of former communist countries before and after the transition from a central planned economy (CPE) to a market economy by applying standard OLS and panel estimation techniques. The main finding is that during...

The introduction of monetary variables into post-Keynesian models of distribution and growth is an ongoing process. Lavoie (1995) has proposed a Kaleckian ‘Minsky-Steindl-model’ of distribution and growth, incorporating the effects debt and debt services have on short and long run capital...

It is well known from nonlinear aggregation theory that distributions play a central role in the determination of aggregate relations. This paper establishes a bridge between the aggregation and the inequality and growth literature by applying a log-linear aggregation method to a simple...

Empirical studies of intertemporal dynamics of individual income, distribution of personal income, and growth and distribution of national income are all based on statistics that rely on some concept of income. The dominant one today appears to be the so-called Haig-Simons-Hicks (HSH) concept of...

We examine how globalization affects trade patterns and welfare when conflict prevails domestically. We do so in a simple model of trade, in which a natural resource like oil is contested by competing groups using real resources ('guns'). Thus, conflict is viewed as ultimately stemming from...

In this paper the Signalling approach to the explanation of wage differentials is analyzed both under a microeconomic and a macroeconomic viewpoint. Departuring from the classical Spence's model, the introduction of inequalities in accessing to education leads to redistributive effects among...

In a model where cooperation is beneficial, but subject to cheating, and is supported by trigger strategy punishments in a repeated game, we explore the relationship between the nature of cooperation (size and composition of coalitions) and underlying inequality in the distribution of private...

In order to analyze conflict and cooperation between a State and a non ruling group in a general equilibrium, I unite pure rent-seeking models and economic models of conflict under an assumption of incomplete property rights. I show that a unique and globally stable Nash equilibrium exists in...

Kazakhstan’s economy has been driven by an oilboom since the discovery of large new oilfields coincided with the upturn of world oil prices after 1998. This paper uses national household expenditure survey data to examine whether Kazakhstan’s experience supports a curse or a blessing...