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technological change, firm organisation, income distribution, consumption behaviour and growth. The analysis performed on the … ; consumption ; earnings distribution ; growth …
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production and consumption, on long run economic growth and income distribution. To accomplish with such a broad aim, we develop … income of workers/consumers; and (iii) the consequent changes in consumption patterns. The model thus articulates the links … consumption patterns on the demand side. We first analyse the model's properties, via numerical simulations, for a given setting …
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Economic growth in agent- and general equilibrium-based models is the result of wage-led expansion or meta-time mechanisms. Such a modelling approach faces empirical and theoretical pitfalls. There is very little econometric and theoretical support for wage-led growth, while the market clearing...
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