In this paper, we introduce a twofold role for the public sector in the Goodwin (1967) model of the growth cycle. The government collects income taxes in order to: (a) invest in infrastructure capital, which directly affects the production possibilities of the economy; (b) finance publicly...

This paper provides a further empirical evaluation of the Neoclassical theory of distribution as opposed to Marx-biased technical change (MBTC) by applying the theoretical and empirical framework developed by Foley and Michl (1999), Michl (1999, 2009) and Basu (2010) to a panel of countries....

In a simple one-sector, two-class, fixed-proportions economy, wages are set through (generalized) axiomatic bargaining a` la Nash (1950). As for choice of technology, firms choose the direction of factor augmentations to maxi- mize the rate of unit cost reduction (Kennedy, 1964, and more...

In our paper, "A Tale of Two Ginis" (Schneider and Tavani, 2016), we presented estimates for two indices of inequality for inequality at the top and the bottom of income distribution based on Jantzen and Volpert (2012). The estimates of the Gini for the bottom of the distribution were based on a...

The Goodwin (1967) model of the growth cycle assigns distributional conflict a central role in the dynamics of capital accumulation, but is silent on the determinants of technical change. Following Shah and Desai (1981), previous studies focused on the effects of the direction, or bias of...