In this study, we build a Kaleckian model incorporating institutional differences between the wage determination of regular employment and that of non-regular employment. Using this model, we investigate how an employment shift toward regular workers affects the capacity utilization rate and...

This paper constructs an open economy Kaleckian model in which the international competition affects the bargaining process between firms and workers, and investigates the effect of such bargaining on macroeconomy. If the real exchange rate has little impact on the trade balance, the economy is...