Similar Search Results

On the Dynamics of Profit- and Wage-led Growth

Bhaduri, Amit - Wiener Institut für Internationale … - 2007

This paper examines how variable output and profit share jointly determine investment and saving, while the difference between investment and saving determines the changes in output and profit share. Analysis of the resulting pair of differential equations yields novel implications for the...

Persistent link: https://www.econbiz.de/10005321914

Real Convergence and Inflation: Long-Term Tendency vs. Short-Term Performance

Podkaminer, Leon - Wiener Institut für Internationale … - 2008

towards the regression line but there is no shorter-term trade-off between fast real convergence and low inflation. Contrary … to popular perception high inflation is not necessary for fast convergence. Moreover the trajectories of certain euro …. However retaining one's national currency is not risk-free, even if domestic inflation is low, and even though subsequent …

Persistent link: https://www.econbiz.de/10005695393

Do Increased Private Saving Rates Spur Economic Growth?

Laski, Kazimierz - Wiener Institut für Internationale … - 2007

Growth of aggregate demand at any given private saving rate depends on growth of private investment, export surplus and budget deficit. Slower growth of private investment in the mid-1970s has triggered stagnation trends in Europe's developed economies, caused mainly by inadequate aggregate...

Persistent link: https://www.econbiz.de/10005321916

Global Growth Processes: Technology Diffusion, Catching-up and Effective Demand

Landesmann, Michael; Stehrer, Robert - Wiener Institut für Internationale … - 2004

This paper analyses two issues that were characteristic of the global growth processes of the 1980s and 1990s (i) an important diffusion process of a new general purpose technology (GPT) and (ii) a speed-up of catching-up of a sub-group of developing economies (South East Asia, later China and...

Persistent link: https://www.econbiz.de/10009649649

Technical Change, Effective Demand and Economic Growth

Landesmann, Michael; Stehrer, Robert - Wiener Institut für Internationale … - 2002

The model developed in this paper has distinctly classical, but also Schumpeterian and Keynesian features. The main analysis is explored in an aggregate (one goods) setting, but many of the results carry over to a multi-sectoral setting. Sections 2 and 3 present the main components of the model...

Persistent link: https://www.econbiz.de/10009649651

Growth and Savings in USA and Japan

Laski, Kazimierz; Römisch, Roman - Wiener Institut für Internationale … - 2001

In a simplified model GDP growth depends on the demand effect of private investment growth and on the growth of the private savings ratio. In a generalized model private investment (IP) has to be supplemented by the trade balance (E) and the budget deficit (D), their sum being termed NPCE...

Persistent link: https://www.econbiz.de/10009649655

Three Ways to High ... Unemployment

Laski, Kazimierz - Wiener Institut für Internationale … - 2000

The author intends to prove that economic policy in Germany after 1979 was opposed to that recommended by Kalecki in his famous 'Three ways to Full Employment' and was responsible for the surge in unemployment. Part I of the paper sketches the theoretical background of Kalecki's recommendations....

Persistent link: https://www.econbiz.de/10009649656

Kalecki’s Profit Equation after 80 Years

Laski, Kazimierz; Walther, Herbert - Wiener Institut für Internationale … - 2013

Abstract Keynes and Kalecki both assume that private investment determines (but is not determined by) private savings. For Keynes, the desired level of saving is an increasing function of GDP, somehow related to the psychology of the society; ‘autonomous’ shifts of investment are determined...

Persistent link: https://www.econbiz.de/10010709576

An Empirical Characterization of Redistribution Shocks and Output Dynamics

Hauzenberger, Klemens; Stehrer, Robert - Wiener Institut für Internationale … - 2010

What are the economic effects of redistributing one dollar from profits to labour income? We address this question for the post-World War II economies of the United States and Canada within a structural VECM procedure allowing for up to two breaks of unknown timing. In the United States the...

Persistent link: https://www.econbiz.de/10008673449

A Time of Moderate Expectations

Adarov, Amat; Astrov, Vasily; Çiçek, Serkan; … - Wiener Institut für Internationale … - 2015

the other hand, most of the countries in the region are also expected to evade the dangers of runaway inflation, fiscal … biennium 2016-2017. Unemployment in the NMS will recede only gradually. Low inflation will prevail in 2015, but it will … the exception of Turkey, those countries seem to have put high inflation behind them. Nonetheless, their unemployment …

Persistent link: https://www.econbiz.de/10011199940