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 …

' borrowing behavior plays a crucial role in understanding the character of demand and growth regimes; (2) debt and workers …

We model US household debt accumulation during the neoliberal boom as a response to emulation effects and the decline …

rentiers’ consumption. Our results show that (i) the interaction between income distribution and emulation can produce … instability, (ii) instability is more likely when the workers’ emulation motive is strong and bankers’ lending decisions are … highly accommodating, and (iii) a plausible assumption on the nonlinearity of emulation behavior can generate a limit cycle …

these models for the steady growth path and the cyclical properties of the economy, and evaluate the consistency of the …

. We show that consumer debt is also important. We add consumer debt to a stock-flow consistent neo-Kaleckian growth model … growth. Unsurprisingly, laxer consumer credit constraints stimulate growth in the short run. However, the long-run effects … may be growth reducing. Looser consumer credit can also make the system more vulnerable to changes in the state of …

Into an analytical stock-flow consistent Post-Kaleckian distribution and growth model the following transmission …