This paper employs (1) a three-sector structuralist model of development with informal and formal activities and (2) a global one-sector model with demand determined outputs and bargained distribution to investigate whether India's growth performance can be sustained, where the country might...

This paper explores macroeconomic policies that can sustain structural change in China and India. A two-sector open-economy model with endogenous productivity growth, demand driven output and income distribution as an important determinant of economic activity is calibrated to a 2000 SAM for...

This paper presents a model of a developing economy with three sectors---a modern sector producing manufactures and services, a traditional sector producing agricultural goods, and a third sector providing energy. Modern and energy sector are assumed to be demand--constrained; the agricultural...

This paper explores macroeconomic policies that can sustain structural change in China and India. A two--sector open--economy model with endogenous productivity growth, demand driven output and income distribution as an important determinant of economic activity is calibrated to a 2000 SAM for...

This paper assesses how the current housing and credit crisis will impact US real activity, and how recession interacts with adjustment of global imbalances. A simple real-side model with decreasing returns to factors and non-clearing goods and labor markets is disaggregated into traded and...

This paper presents an(other) investigation of the links between growth and distribution. We discuss a Neo–Kaleckian two country model with fixed mark–ups, where repercussions between the two countries matter. We assume that demand is wage–led in autarky but profit–led with trade, and...

This paper employs (1) a three-sector structuralist model of development with informal and formal activities and (2) a global one-sector model with demand determined outputs and bargained distribution to investigate whether India’s growth performance can be sustained, where the country might...

The combined demographic developments of population aging and high rates of migration of young adults are consequential for older parents who face a potential decline in support from adult children. These developments also impact the lives of migrant adults who face the challenge of providing...

We explore four decades of cyclical and long-run dynamics in income distribution and economic activity for a panel of thirteen OECD countries. Based on predator-prey dynamics, we find that the business cycle is weakly profit-led , and that the long-run equilibrium has been shifting towards a...