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investment must be externally financed, and external finance is subject to a standard costly state verification (CSV) problem. In … of their own investment projects. However some external finance is also required. This is provided by quot …
Persistent link: https://www.econbiz.de/10012775446
We analyze a generalized neoclassical growth model that combines a normalized CES production function and possible asymmetries of savings out of factor incomes. This generalized model helps to shed new light on a recent debate concerning the impact of factor substitution and income distribution...
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The main purpose of this paper is to build a family of tutorial Goodwinian (essentially Marxist) models of capital accumulation through industrial cycles that are less complicated than the author's models of the extended capitalist reproduction in the USA already published. The subordinate...
Persistent link: https://www.econbiz.de/10013459627
demand, i.e. investment, consumption and net exports. Since increasing shareholder power and shareholder value orientation of … of financialisation in the context of the postKeynesian theory of the firm and explain the other channels from there. An … important result is the emergence of 'profits without investment' demand and growth regimes, for which we point out the …
Persistent link: https://www.econbiz.de/10014490639
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explicitly considers the dynamics of demand, prices, profits, and investment. The outcomes of the initial wage rise are found to … mainstream approach to analyzing the effects of wage increases.-- Distributional Changes ; Disequilibrium ; Investment ; Growth …
Persistent link: https://www.econbiz.de/10009380290
This paper contributes to the debate on income growth and distribution from a nonmainstream perspective. It looks, in particular, at the role that the degree of capacity utilization plays in the process of growth of an economy that is not perfectly competitive. The distinctive feature of the...
Persistent link: https://www.econbiz.de/10010340282