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 …

performance. A standard Kaleckian growth model is modified 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 …

performance. A standard Kaleckian growth model is modidied 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 …

borrowing. We find that emulation could expand aggregate demand and hence generate a faster economic growth. Our results also …We develop a stock-flow consistent neo-Kaleckian macro model which incorporates consumption emulation and consumer debt …, we investigate the macroeconomic effects of lower income group's consumption emulation of higher income group through …

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 …

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 … results of simpler models. For example, we find that a surge in animal spirits is good for steady-state growth. We show that …

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

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 …