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Macroeconomic effects of personal and functional income inequality : theory and empirical evidence for the US and Germany
Prante, Franz J. - 2017
income inequality and interdependent social norms. The model shows in an easily accessible manner how personal and functional … income inequality can potentially have contrary effects on aggregate demand and growth. It can illustrate some of the major … connected to inequality and country specific consumption and saving behaviour. Furthermore, aggregate consumption functions are …
Persistent link: https://www.econbiz.de/10011606907
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The (normal) rate of capacity utilization at the firm level
Nikiforos, Michalis - 2012
This paper examines the endogeneity (or lack thereof) of the rate of capacity utilization in the long run at the firm level. We provide economic justification for the adjustment of the desired rate of utilization toward the actual rate on behalf of a cost-minimizing firm after examining the...
Persistent link: https://www.econbiz.de/10009665519
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The (Normal) Rate of Capacity Utilization at the Firm Level
Nikiforos, Michalis - 2012
This paper examines the endogeneity (or lack thereof) of the rate of capacity utilization in the long run at the firm level. We provide economic justification for the adjustment of the desired rate of utilization toward the actual rate on behalf of a cost-minimizing firm after examining the...
Persistent link: https://www.econbiz.de/10013097456
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Structural change in the US Phillips curve, 1948-2021 : the role of power and institutions
Setterfield, Mark; Blecker, Robert A. - 2022
This paper provides an institutional-analytical account of changes in the structure of the US Phillips curve (PC) during the post-war period. It does so by restoring conflict and power to the forefront of macro theory and, in particular, the wage- and price-setting behaviour of workers and...
Persistent link: https://www.econbiz.de/10013347209
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Investment, autonomous demand and long run capacity utilization : an empirical test for the Euro Area
Gallo, Ettore - 2019
In recent years, the role attached to the autonomous components of aggregate demand has attracted rising attention, as testified by the development of the Sraffian Supermulti plier model (SSM) and the attempts to include autonomous demand in the Neo-Kaleckian model. This paper reviews and...
Persistent link: https://www.econbiz.de/10011984077
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Assessing the impact of incomes policy : the italian experience
Pastore, Francesco - 2010
The Saint Valentine's decree (1984) and the ensuing hard fought referendum (1985), which reduced the automatisms of scala mobile, started a process of redefinition of wage fixing in Italy, which culminated with the final abolition of scala mobile (1992) and the approval of Protocollo d'intesa...
Persistent link: https://www.econbiz.de/10008779168
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Distribution, aggregate demand and productivity growth : theory and empirical results for six OECD countries based on a post-Kaleckian model
Hein, Eckhard; Tarassow, Artur - 2008
Empirical research based on the Bhaduri/Marglin-variant of the Kaleckian model has recently shown that aggregate demand in many medium-sized and large open economies tends to be wage-led in the medium to long run, even in a period of increasing globalisation. In this paper we extend this type of...
Persistent link: https://www.econbiz.de/10003772369
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Distribution and gender effects on the path of economic growth: comparative evidence for developed, semi-industrialized, and low-income agricultural economies
Badru, Ruth - 2020
evidence, combined with the stylized facts about institutional and economic inequality, suggests that the impact of gender and … income inequality on macroeconomic outcomes will differ depending on the economic structure and level of economic development. …
Persistent link: https://www.econbiz.de/10012239618
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Equilibrium unemployment dynamics in a panel of OECD countries
Nymoen, Ragnar; Sparrman, Victoria - 2013 - This version July 11, 2013
setting. The equilibrium unemployment rate depends on institutional labour market institutions through mark-up coefficients …
Persistent link: https://www.econbiz.de/10009787067
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Relative income and indebtedness : evidence from panel data
Carr, Michael D.; Jayadev, Arjun - In: The review of income and wealth : journal of the … 61 (2015) 4, pp. 758-772
Persistent link: https://www.econbiz.de/10011623983