The finance-dominated growth regime, distribution, and aggregate demand in the US

Özlem Onaran; Engelbert-Richard Stockhammer; Lucas Grafl

doi:10.57938/43402182-ba3d-44d7-9b4f-c932a4c4c07d

The finance-dominated growth regime, distribution, and aggregate demand in the US

Özlem Onaran, Engelbert-Richard Stockhammer, Lucas Grafl

Publication: Working/Discussion Paper › WU Working Paper

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Abstract

The finance-dominated growth regime has affected key macroeconomic variables in several contradictory ways. This paper investigates some of these effects: an increase of rentiers income, housing wealth and net financial wealth on private consumption expenditures and the effects of changes in payments to the rentier by the business on private investment expenditures. A Post-Kaleckian macro model is used as a starting point for this investigation. The paper thus contributes to two debates. First, it aims at clarifying some important macroeconomic effects of financialization. Second, it extends the analysis of distribution-led demand regimes by controlling for financialization variables.

Original language	English
Place of Publication	Vienna
Publisher	Inst. für Volkswirtschaftstheorie und -politik, WU Vienna University of Economics and Business
DOIs	https://doi.org/10.57938/43402182-ba3d-44d7-9b4f-c932a4c4c07d
Publication status	Published - 2009

Publication series

Series	Department of Economics Working Paper Series
Number	126

WU Working Paper Series

Department of Economics Working Paper Series

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10.57938/43402182-ba3d-44d7-9b4f-c932a4c4c07dLicence: Unspecified

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University Library Catalogue

Vermögens- und Arbeitsmärkte im Wirtschaftswachstum
Ederer, S. (Researcher), Onaran, Ö. (Researcher) & Stockhammer, E.-R. (Researcher)
1/10/05 → 28/02/08
Project: Research funding

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The finance-dominated growth regime, distribution, and aggregate demand in the US

Abstract

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WU Working Paper Series

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Vermögens- und Arbeitsmärkte im Wirtschaftswachstum

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