We study a demand-driven growth and distribution model with a public sector, both without and with government debt. Government spending is used to finance the accumulation of public capital and to pay wages to public employees. The interaction between public capital and induced technical change...

The Goodwin (1967) model of the growth cycle assigns distributional conflict a central role in the dynamics of capital accumulation, but is silent on the determinants of technical change. Following Shah and Desai (1981), previous studies focused on the effects of the direction, or bias of...

Following a methodology proposed by Jantzen and Volpert (2012), we use IRS Adjusted Gross Income (AGI) data for the United States (1921-2012) to estimate two Gini-like indices representing inequality at the bottom and the top of the income distribution. We also calculate the overall Gini index...

Four alarming stylized facts have recently emerged in the United States: (i) a decline in the labor share of income; (ii) a decline in labor productivity; (iii) an increase in the top 1% wealth share, and (iv) an increase in the capital-income ratio. In Capital in the XXI Century, Thomas...

This paper provides a further empirical evaluation of the Neoclassical theory of distribution as opposed to Marx-biased technical change (MBTC) by applying the theoretical and empirical framework developed by Foley and Michl (1999), Michl (1999, 2009) and Basu (2010) to a panel of countries....

We study a demand-driven growth and distribution model with a public sector, both without and with government debt. Government spending is used to finance the accumulation of public capital and to pay wages to public employees. The interaction between public capital and induced technical change...

In our paper, "A Tale of Two Ginis" (Schneider and Tavani, 2016), we presented estimates for two indices of inequality for inequality at the top and the bottom of income distribution based on Jantzen and Volpert (2012). The estimates of the Gini for the bottom of the distribution were based on a...