Is the long-run equilibrium wage-led or profit-led? A Kaleckian approach
نویسندگان
چکیده
منابع مشابه
Is the Long-run Equilibrium Wage-led or Profit-led? A Kaleckian Approach
This paper presents a Kaleckian growth model in which (i) the rate of capacity utilization, the profit share, and the rate of employment are adjusted in the medium run, and (ii) the normal rate of capacity utilization and the expected rate of growth are adjusted in the long run. Both the Kalecki type and the Marglin-Bhaduri type investment functions are introduced. Using the model, we examine w...
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ژورنال
عنوان ژورنال: Structural Change and Economic Dynamics
سال: 2012
ISSN: 0954-349X
DOI: 10.1016/j.strueco.2012.03.007