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Persistent link: https://www.econbiz.de/10012410138
Sraffian supermultiplier models, as well as Kaleckian distribution and growth models that make use of non-capacity creating autonomous demand growth to cope with Harrodian instability, have paid little attention to the financial side of autonomous demand growth as the driver of the system....
Persistent link: https://www.econbiz.de/10012509505
In the present paper we extend Lavoie's (Metroeconomica, 1995, vol. 46, pp. 146-177) 'Minsky-Steindl' model, building our analysis on a Kaleckian distribution and growth model which has already taken into account distribution effects of interest rate variations on the short-run equilibrium. Into...
Persistent link: https://www.econbiz.de/10005203240
We discuss the effects of rising shareholder power on distribution and capital accumulation in a Kaleckian model. In the short run, increasing shareholder power may have either positive ('finance-led'), negative ('normal') or 'intermediate' ('profits without investment') effects on capacity...
Persistent link: https://www.econbiz.de/10008472831
Persistent link: https://www.econbiz.de/10011033523
Persistent link: https://www.econbiz.de/10011033526
The first part of the paper deals with the effects of an exogenous variation in the monetary interest rate on the real equilibrium position of the economic system in a Kaleckian effective demand model. Different regimes of accumulation are derived and it is shown that a negative relation between...
Persistent link: https://www.econbiz.de/10005659068