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We review the main arguments put forward against the horizontalist view of endogenous credit and money and an exogenous rate of interest under the control of monetary policies. We argue that the structuralist arguments put forward in favour of an endogenously increasing interest rate when...
Persistent link: https://www.econbiz.de/10009549797
Focussing on the long-run effects of 'financialisation' and increasing shareholder power in a simple Post-Kaleckian endogenous growth model, we examine the effects of increasing shareholder power on the demand regime, on the productivity regime, and on the overall regime of the model. Under...
Persistent link: https://www.econbiz.de/10009549822
In a Kaleckian distribution and growth model with workers' debt we examine the short- and long-run effects of three stylized facts of 'finance-dominated capitalism': a fall in animal spirits of the firm sector with respect to real investment in capital stock, re-distribution of income at the...
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Schumpeterian, evolutionary theory of innovation and competition, and the classical, Sraffian theory of prices and distribution. Can …
Persistent link: https://www.econbiz.de/10009304200
macroeconomic income distribution, i.e. neoclassical, post-Keynesian, and Kaleckian distribution theory. Since the data show strong …
Persistent link: https://www.econbiz.de/10009306635
long run growth outcomes. Third, managerial pay links neo-classical Marxist theory with Post Keynesian growth theory. Neo … theory and firms may choose techniques that lower growth because they increase profits. …-klassischer marxistischer Theorie und postkeynesianischer Wachstumstheorie geschlagen. Neo-klassische Marxisten fokussieren auf die Frage, warum …
Persistent link: https://www.econbiz.de/10009306637
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We present a model of growth and distributional conflict that implies a non-monotonic relationship between average wealth and the likelihood of radical redistribution: while the net benefits of redistribution for members of the poor class are small at low stages of development, a shift towards...
Persistent link: https://www.econbiz.de/10011397749