Setterfield, Mark SetterfieldY; Kim, Yun K. - Economics Department, University of Massachusetts-Boston - 2014
We develop a neo-Kaleckian growth model that emphasizes the importance of consumption behavior. In our model, workers … debt accumulation and income distribution have effects on aggregate demand, profitability, and economic growth that differ … growth regimes within our framework. It is shown that distributional changes between the Golden Age and the Neoliberal …