Goodwin Cycles, Distributional Conflict, and Productivity Growth

Publication: Scientific journalJournal articlepeer-review

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.
Original languageEnglish
Pages (from-to)29 - 39
JournalMetroeconomica
Volume63
Issue number1
DOIs
Publication statusPublished - 2012

Cite this