In this paper, we put forward a neo-Kaleckian model of growth and dsitribution. We introduce two different types of … equilibrium capacity utilisation and growth. Two different cases are explored: a) the government size is allowed to vary; b) the … Growth Theory. In fact, when capacity is underutilised, and increase in the provision of public capital may reduce the rate …

dynamic model of growth and distribution to analyze the effects of the spread of education on profitability, accumulation …This paper examines the interaction between education, growth and distribution from a classical-Marxian perspective. It … first briefly examines classical-Marxian ideas on the relation between education and growth and income distribution. Drawing …

economic growth and unemployment. We provide a theoretical model that explains the technology-bias and its development. We … provide empirical evidence on the development of the technology-bias and explain this development by using our model …-results. Last not least, we discuss the implications of our findings for the existing growth literature and structural change …

include consumer as well as corporate debt in a stock-flow consistent neo-Kaleckian growth model and explore the macrodynamic … ramifications. We find that consumer credit conditions influence effective demand, the profit rate, and economic growth. The … inclusion of consumer debt as well as corporate debt in our model substantially alters the model's dynamics. We compare our …

0.35 and 0.5 with empirical evidence that the IES is large. This is done using a model in which all agents have … specifications of the model with small values of the IES are more plausible than specifications with a large IES. …

The model developed in this paper expands upon the traditional neoclassical exogenous growth model by facilitating a …-economy exogenous growth model into a multi-country, open-economy endogenous growth model. Nevertheless, the conditional convergence and … identical growth predictions of the neoclassical model are preserved here with the extent of trade now playing a role in …

This paper explores some implications of the comparison between feedback Nash and Stackelberg equilibria for growth and … welfare in a `voracity' model. We show that as compared to the Nash equilibrium, the Stackelberg equilibrium involves a lower … growth rate while it leaves both the leaders and the followers better o, i.e., the Stackelberg equilibrium is Pareto superior …

In a Kaleckian distribution and growth model with workers’ debt we examine the short- and long-run effects of three …

growth with agent-based features. Our model is driven by heterogeneous firms who, confronting an environment of fundamental … to conventional macroeconomic theory. In the spirit of this endeavour, we construct a Keynes-Kalecki model of cyclical … uncertainty, revise their “state of long run expectations” in response to recent events. Model simulations generate fluctuations …

The volatility of unanticipated output growth in income per capita is detrimental to long-run development …,controlling for initial income per capita, population growth, human capital,investment, openness and natural resource dependence. This … black box and conditioning the variance of growth shocks on several country characteristics. Natural resource dependence …