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Pasinetti and Dual Equilibria in a Post Keynesian Model of Growth and Institutional Distribution

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  • Commendatore, Pasquale

Abstract

In this paper, the author extends the post-Keynesian theory of growth and distribution to a corporate economy. He shows that the rate of profits and the distribution between profits and wages are influenced by the behavioral parameters of shareholders and firms, such as the degree of indifference between dividends and capital gains and the retention ratio, and by long-lasting stock market imperfections. What has been obtained in previous analyses, such as O'Connell (1985, 1995), are special cases of these results. The conditions for the existence of what are known in the literature as Pasinetti and dual equilibria are also investigated. Copyright 1999 by Royal Economic Society.

Suggested Citation

  • Commendatore, Pasquale, 1999. "Pasinetti and Dual Equilibria in a Post Keynesian Model of Growth and Institutional Distribution," Oxford Economic Papers, Oxford University Press, vol. 51(1), pages 223-236, January.
    • Handle: RePEc:oup:oxecpp:v:51:y:1999:i:1:p:223-36
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    Cited by:

    1. Massimiliano La Marca, 2005. "The Public Sector In A Model Of Growth And Distribution À La Pasinetti: Existence Of One‐ Or Two‐Class Economies," Metroeconomica, Wiley Blackwell, vol. 56(2), pages 157-181, May.
    2. George, Donald A R, 2012. "A two-sector growth model with institutional saving and investment," SIRE Discussion Papers 2012-28, Scottish Institute for Research in Economics (SIRE).
    3. Donald A. R. George, 2013. "A two-sector growth model with institutional saving and investment," Edinburgh School of Economics Discussion Paper Series 214, Edinburgh School of Economics, University of Edinburgh.
    4. Donald George, 2017. "A Pasinetti model of savings and growth," Edinburgh School of Economics Discussion Paper Series 278, Edinburgh School of Economics, University of Edinburgh.

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