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The paper studies endogenous employment and distribution dynamics in a Post-Keynesian growth model of the Kalecki–Steindl tradition. Abstract: Productivity adjustments stabilise employment and the labour share in the long run: technological change allows firms to replenish the reserve army of workers in a struggle over income shares and thereby keeps wage demands in check. Labour market dynamics follow from separate wage and price curves. The authors discuss stability conditions and the equilibrium dynamics and investigate how legal working time and its reduction affect this equilibrium

Author

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  • Stefan Ederer
  • Armon Rezai

Abstract

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Suggested Citation

  • Stefan Ederer & Armon Rezai, 2022. "The paper studies endogenous employment and distribution dynamics in a Post-Keynesian growth model of the Kalecki–Steindl tradition. Abstract: Productivity adjustments stabilise employment and the l," Review of Keynesian Economics, Edward Elgar Publishing, vol. 10(3), pages 355-381, July.
    • Handle: RePEc:elg:rokejn:v:10:y:2022:i:3:p355-381
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    More about this item

    Keywords

    Post-Keynesian economics; productivity; technological change; income distribution; employment; economic growth; working time;
    All these keywords.

    JEL classification:

    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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