Goodwin Cycles, Distributional Conflict, and Productivity Growth

Armon Rezai

doi:10.1111/j.1467-999X.2011.04144.x

Goodwin Cycles, Distributional Conflict, and Productivity Growth

Armon Rezai

Institute for Spatial and Social-Ecological Transformations (Novy)

Publication: Scientific journal › Journal article › peer-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 language	English
Pages (from-to)	29 - 39
Journal	Metroeconomica
Volume	63
Issue number	1
DOIs	https://doi.org/10.1111/j.1467-999X.2011.04144.x
Publication status	Published - 2012

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Cite this

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title = "Goodwin Cycles, Distributional Conflict, and Productivity Growth",

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.",

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