The reflections in this article stem from Andreatta’s 1958 analysis on Income distribution and capital accumulation, in the form of a stylized interpretation of his thought as a political economist. His theoretical analyses are reinterpreted with particular attention to the effects of...

The reflections in this article stem from Andreatta’s 1958 analysis on Income distribution and capital accumulation, in the form of a stylized interpretation of his thought as a political economist. His theoretical analyses are reinterpreted with particular attention to the effects of...

How to provide for full employment and equitable distribution of incomes and wealth are the keenest issues of the U.S. society. The Democratic and the Republican Parties have elaborated opposing views on economic policy, though both parties are certain that the problems may be resolved through...

Durch die anstehende Revision der Volkswirtschaftlichen Gesamtrechnungen rechnet sich auch Deutschland reicher: Das Bruttoinlandsprodukt wird merklich höher ausfallen, wie schon bei den früheren Revisionen, und auch das Anlagevermögen nimmt rechnerisch deutlich zu. Bedeutsam hierfür ist die...

Im Rahmen der regelmäßigen Revisionen der Volkswirtschaftlichen Gesamtrechnungen (VGR) werden nicht nur die Daten am aktuellen Rand, sondern auch weit in die Vergangenheit zurückreichende Zeitreihen überarbeitet. Damit gehen regelmäßig Niveaueffekte, zum Beispiel ein höheres...

The one-sector neoclassical growth model (Solow, 1956,RES) can generate only simple dynamics. The dynamic properties of the Solow model follow from the saving behaviour and the neoclassical technology. As shown by Day (1982, AER), when average savings are allowed to vary, the discrete-time...

This paper investigates the effect of profit sharing on the economy by using a Kaleckian model. Unlike exiting studies, we endogenize the profit share. Our analysis shows that if the size of the productivity-enhancing effect of profit sharing is small, profit sharing decreases the equilibrium...

We extend Kaldor’s theory of income distribution to include workers’ debt accumulation and their motive to emulate rentiers’ consumption. Our results show that (i) the interaction between income distribution and emulation can produce instability, (ii) instability is more likely when the...

In this paper, we study some of the properties of a discrete-time version of the two-class model of growth and distribution proposed by Pasinetti (1962) and Samuelson and Modigliani (1966) with a concave production function of the CES type. Two distinct groups of agents, workers and capitalists,...

The objective of this article is to describe and analyse the economic development and to summarize and explain the most important factors that have caused the long-term stagnation and instability of the Japanese economy in the 1990s (so called „lost decade“). The asset price bubble collapse...