In a Kaleckian distribution and growth model with workers' debt we examine the short- and long-run effects of three … workers for consumption purposes. In particular, we specify the conditions for long-run stability of the workers' debt …

In a Kaleckian distribution and growth model with workers' debt we examine the short- and long-run effects of three … workers for consumption purposes. In particular, we specify the conditions for long-run stability of the workers' debt …

In a Kaleckian distribution and growth model with workers’ debt we examine the short- and long-run effects of three … workers for consumption purposes. In particular, we specify the conditions for long-run stability of the workers’ debt …

In a Kaleckian distribution and growth model with workers' debt we examine the short and long run effects of three … workers for consumption purposes. In particular, we specify the conditions for long-run stability of the workers' debt …

In the present paper we explicitly introduce interest payments and debt into a Kaleckian distribution and growth model … the equilibrium debt-capital-ratio are also analysed. It is shown, that the effects of interest variations on the … interest rate and the debt-capital-ratio. If the conditions for short-run "normal" effects of interest rate variations are …

. 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 accumulation. This attempt, however, can be extended because neither has … effects of debt and debt services are explicitly introduced, the effects of interest rate variations on the short and the long …

regimesemerge, depending on the institutional setting of the respective model economy:the debt-led private demand boom regime (DLPD … government deficits, on the one hand, andELMregimes, on the other, depending ontherequired deleveraging of private household debt …

In the present paper we explicitly introduce interest payments and debt into a Kaleckian distribution and growth model … the equilibrium debt-capital-ratio are also analysed. It is shown, that the effects of interest variations on the … interest rate and the debt-capital-ratio. If the conditions for short-run 'normal' effects of interest rate variations are …

perspective. This is shown by means of examining the effect of increasing capital accumulation on the debt-capital ratio of the … accumulation may be associated with a falling (rising) debt-capital ratio for the economy as a whole and hence with the 'paradox of … debt'. Therefore, the treatment of the rate of interest as an exogenous macroeconomic distribution parameter in Post …