This paper presents a neo-Kaleckian-Goodwin model of growth and distribution. The key innovation is the introduction of …

I construct and analyze a growth model in which technical change can increase unemployment. I first analyze the forces … that deliver a constant steady state unemployment rate in this setting. Labor-saving technical change increases … unemployment, which lowers wages and creates incentives for future investment in labor-using technologies. In the long run, this …

In this study, we analyze the relationship between inflation and economic growth. To this end, we construct a model of … endogenous growth with creative destruction, incorporating sticky prices due to menu costs. Inflation and deflation reduce the … reward for innovation via menu cost payments and, thus, lower the frequency of creative destruction. Central banks can …