This paper studies two formal models of long run growth with a medium-run distributive cycle, both of which feature … consistent with the observed decline of the labor share, the income-capital ratio, and labor productivity growth during the … neoliberal era. Importantly, both theories: (a) provide space for mutually reinforcing pro-labor and pro-growth policies in the …

We tackle the issue of the possible instability of the Kaleckian distribution and growth model and the consequences for …., Lavoie, M., van Treeck, T. (2011): Some instability puzzles in Kaleckian models of growth and distribution: A critical survey …. Distinguishing between Keynesian and Harrodian instability, we review various mechanisms that have been proposed to tame Harrodian …

We tackle the issue of the possible instability of the Kaleckian distribution and growth model and the consequences for …. Distinguishing between Keynesian and Harrodian instability, we review various mechanisms that have been proposed to tame Harrodian … instability while bringing back the rate of utilization to its normal rate. We find that the mechanisms that have been suggested …

This paper considers a puzzle in growth theory from a Keynesian perspective. If neither wage and price adjustment nor … full employment. We resolve this puzzle by invoking Harrod's instability results. Demand grows because it follows an … explosive upward path that is ultimately limited by resource constraints. Downward demand instability is contained by …

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 …

borrowing. We find that emulation could expand aggregate demand and hence generate a faster economic growth. Our results also …