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Inequality, Debt Servicing, and the Sustainability of Steady State Growth

Setterfield, Mark - 2014

performance. A standard Kaleckian growth model is modiifed to incorporate working households who borrow to finance consumption … this behavior on the sustainability of the growth process is then studied by means of a numerical analysis that captures …

Persistent link: https://www.econbiz.de/10013045092

Varieties and interdependencies of demand and growth regimes in finance-dominated capitalism

Prante, Franz; Hein, Eckhard; Bramucci, Alessandro - 2021

We outline and simulate a stylised post-Keynesian two country stock-flow consistent model to demonstrate the interconnection of three of the main features/outcomes of finance-dominated capitalism, namely worsening income distribution for the bottom 90% households, the rise of international...

Persistent link: https://www.econbiz.de/10012696153

The middle class in macroeconomics and growth theory: A three class neo-Kaleckian ? Goodwin model

Palley, Thomas I. - Institut für Makroökonomie und Konjunkturforschung … - 2014

This paper presents a three class growth model with labor market conflict. The classes are workers, a middle management … with both capitalists and workers. Changes that benefit the middle class do not necessarily increase growth or employment …

Persistent link: https://www.econbiz.de/10010858919

Income Distribution and Economic Growth in a Multi-Sectoral Kaleckian Model

Nishi, Hiroshi - Graduate School of Economics, Kyoto University - 2014

This study builds an income distribution and growth model within a simple multi-sectoral Kaleckian framework. The model … that establish the economic growth regime (i.e. wage-led and profit-led) and the stable output growth rate adjustment … and investment matter for the formation of a growth regime and the stability of the output growth rate at the aggregate …

Persistent link: https://www.econbiz.de/10010933364

Demand and growth regimes in finance-dominated capitalism and a progressive equality-, sustainability- and domestic demand-led alternative : a post-Keynesian simulation approach

Hein, Eckhard; Prante, Franz; Bramucci, Alessandro - In: PSL quarterly review 76 (2023) 305, pp. 181-202

Making use of a post-Keynesian/Kaleckian two-country stock-flow consistent (SFC) simulation model, we shed light on different regimes in modern finance-dominated capitalism, their interaction at the global scale, and then on the changes in regimes after the 2007-09 crises. Most importantly, we...

Persistent link: https://www.econbiz.de/10014550808

Political Aspects of Household Debt

Kim, Yun K. - 2017

' borrowing behavior plays a crucial role in understanding the character of demand and growth regimes; (2) debt and workers … channels, workers' borrowing behavior can be a decisive factor in the determination of macroeconomic (in)stability …

Persistent link: https://www.econbiz.de/10012949343

Varieties of Capitalism, Increasing Income Inequality, and the Sustainability of Long-Run Growth

Setterfield, Mark - 2018

We model US household debt accumulation during the neoliberal boom as a response to emulation effects and the decline of the social wage, which has "privatized" an increasing share of the costs of providing for services such as health and education. The debt dynamics of the US economy are then...

Persistent link: https://www.econbiz.de/10012914419

Financialisation and the potentials for a progressive equality-, sustainability- and domestic demand-led regime : a post-Keynesian simulation approach

Hein, Eckhard; Prante, Franz; Bramucci, Alessandro - 2022

one by Flaschel and co-authors, since we are explicitly in our model only focusing on demand and growth regimes, as well …

Persistent link: https://www.econbiz.de/10013393481

Structural change and income distribution: An inverted-U relationship

Patriarca, Fabrizio; Vona, Francesco - In: Journal of Economic Dynamics and Control 37 (2013) 8, pp. 1641-1658

This paper constructs a disequilibrium model in order to analyse the structural transition characterized by the emergence of a new sector. We show that, in an economy where preferences and technology adapt over time, multiple long-term outcomes are mainly brought about by different distributive...

Persistent link: https://www.econbiz.de/10010679081

Rising Income Inequality, Increased Household Indebtedness, and Post Keynesian Macrodynamics

Setterfield, Mark - Department of Economics, New School for Social Research - 2014

A Kaleckian growth model is modified to incorporate working households who borrow to finance some part of their … consumption spending. The impact of this behavior on the sustainability of the growth process is then studied by means of a …

Persistent link: https://www.econbiz.de/10011127538