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Steady‐State Growth And Distribution With An Endogenous Direction Of Technical Change

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  • A. J. Julius

Abstract

A model of labor‐constrained accumulation and economically directed technical progress has a stable steady state at which the class distribution of income is invariant with respect to population and saving parameters yet sensitive to workers’ stances in wage bargaining and to the tax and transfer policies of a redistributive state.

Suggested Citation

  • A. J. Julius, 2005. "Steady‐State Growth And Distribution With An Endogenous Direction Of Technical Change," Metroeconomica, Wiley Blackwell, vol. 56(1), pages 101-125, February.
    • Handle: RePEc:bla:metroe:v:56:y:2005:i:1:p:101-125
    DOI: 10.1111/j.1467-999X.2005.00209.x
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    References listed on IDEAS

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    1. Gilbert L. Skillman, 1997. "Technical Change and the Equilibrium Profit Rate in a Market with Sequential Bargaining," Metroeconomica, Wiley Blackwell, vol. 48(3), pages 238-261, October.
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    5. Arrow, Kenneth J, 1969. "Classificatory Notes on the Production and Transmission of Technological Knowledge," American Economic Review, American Economic Association, vol. 59(2), pages 29-35, May.
    6. Luigi L. Pasinetti, 1962. "Rate of Profit and Income Distribution in Relation to the Rate of Economic Growth," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 29(4), pages 267-279.
    7. Skott, Peter, 1981. "Technological Advance with Depletion of Innovation Possibilities: A Comment and Some Extensions," Economic Journal, Royal Economic Society, vol. 91(364), pages 977-987, December.
    8. Lorenz, Hans-Walter, 1987. "Strange attractors in a multisector business cycle model," Journal of Economic Behavior & Organization, Elsevier, vol. 8(3), pages 397-411, September.
    9. Frédéric Lordon, 1995. "Cycles et chaos dans un modèle hétérodoxe de croissance endogène," Revue Économique, Programme National Persée, vol. 46(6), pages 1405-1432.
    10. Paul A. Samuelson & Franco Modigliani, 1966. "The Pasinetti Paradox in Neoclassical and More General Models," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 33(4), pages 269-301.
    11. Frank Thompson, 1995. "Technical Change, Accumulation and the Rate of Profit," Review of Radical Political Economics, Union for Radical Political Economics, vol. 27(1), pages 97-126, March.
    12. Funk, Peter, 2002. "Induced Innovation Revisited," Economica, London School of Economics and Political Science, vol. 69(273), pages 155-171, February.
    13. Thomas Michl, 1999. "Biased Technical Change and the Aggregate Production Function," International Review of Applied Economics, Taylor & Francis Journals, vol. 13(2), pages 193-206.
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