Goodwin Cycles, Distributional Conflict, and Productivity Growth

Publikation: Wissenschaftliche FachzeitschriftOriginalbeitrag in FachzeitschriftBegutachtung

Abstract

A combination of an investment-driven macroeconomy and a conflict-determined income distribution gives cyclical behavior. Models of wage–price inflation can be nested in the Goodwinian tradition. Endogenous technical change has ambiguous effects on equilibrium: Kaldor–Verdoorn effects increase the wage share's responsiveness to changes in output, while labor-saving technical change reduces it.
OriginalspracheEnglisch
Seiten (von - bis)29 - 39
FachzeitschriftMetroeconomica
Jahrgang63
Ausgabenummer1
DOIs
PublikationsstatusVeröffentlicht - 2012

Dieses zitieren