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The emphasis in post-Keynesian macroeconomics on wage- versus profit- led growth may not have been helpful. The profit share is not an exogenous variable, and the correlations between the pro.t share and economic growth can be positive for some exogenous shocks but negative for others. The...
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The aggregate saving indicator does not directly reflect changes in individuals’ microeconomic behavior. From the … official statistics’ point of view, households choose between spending, which generates additional income and consumption in … investment) choose to save, because the aggregate saving statistical indicator is a residual concept defined as the ensuing …
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