The Profit-Investment-Unemployment Nexus And Capacity Utilization In A Stock-Flow Consistent Model
This paper studies under which conditions the share of profit in value-added, financial constraints on investment and capital shortage may foster unemployment and may limit the growth of capital and/or the growth of aggregate demand, in a stock-flow consistent model. The efficiency of demand-side versus supply-side economic policies (decrease of the real interest rate and/or of the real wage, increase of the leverage ceiling constraint) depends on capital shortage and credit rationing, which are not necessarily simultaneous due to the effects of investment on aggregate demand and supply. Copyright � 2009 Blackwell Publishing Ltd.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 61 (2010)
Issue (Month): 3 (07)
|Contact details of provider:|| Web page: http://www.blackwellpublishing.com/journal.asp?ref=0026-1386|
|Order Information:||Web: http://www.blackwellpublishing.com/subs.asp?ref=0026-1386|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Eckhard Hein, 2007.
"Interest Rate, Debt, Distribution And Capital Accumulation In A Post-Kaleckian Model,"
Wiley Blackwell, vol. 58(2), pages 310-339, 05.
- Hein, Eckhard, 2004. "Interest rate, debt, distribution and capital accumulation in a post-Kaleckian model," WSI Discussion Papers 133, Wirtschafts- und Sozialwissenschaftliches Institut (WSI), Hans-Böckler-Stiftung.
- Eckhard Hein, 2004. "Interest rate, debt, distribution and capital accumulation in a post-Kaleckian model," Macroeconomics 0412005, EconWPA.
- Jean-Bernard Chatelain & Bruno Amable & Kirsten Ralf, 2004.
"Credit rationing, profit accumulation and economic growth,"
Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers)
- Amable, Bruno & Chatelain, Jean-Bernard & Ralf, Kirsten, 2004. "Credit rationing, profit accumulation and economic growth," Economics Letters, Elsevier, vol. 85(3), pages 301-307, December.
- Amable, Bruno & Jean-Bernard Chatelain & Kirsten RALF, 2002. "Credit Rationing, Profit Accumulation and Economic Growth," Royal Economic Society Annual Conference 2002 5, Royal Economic Society.
- Constantinos Alexiou & Christos Pitelis, 2003. "On capital shortages and European unemployment: a panel data investigation," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 25(4), pages 613-640, July.
- Chatelain, Jean-Bernard, 1998.
"Investment Facing Credit Rationing,"
The Manchester School of Economic & Social Studies,
University of Manchester, vol. 66(0), pages 102-15, Supplemen.
- Jean-Bernard Chatelain, 1998. "Investment facing Credit Rationing," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00432132, HAL.
- Chatelain, 2004.
"Mark-up and Capital Structure of the Firm facing Uncertainty,"
- Chatelain, Jean-Bernard, 2001. "Mark-up and capital structure of the firm facing uncertainty," Economics Letters, Elsevier, vol. 74(1), pages 99-105, December.
- Chatelain, J.-B., 2001. "Mark-up and Capital Structure of the Firm facing Uncertainty," Working papers 84, Banque de France.
- Jean-Bernard Chatelain, 2001. "Mark-up and Capital Structure of the Firm facing Uncertainty," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00119409, HAL.
- Chatelain, Jean-Bernard & Teurlai, Jean-Christophe, 2006.
"Euler investment equation, leverage and cash flow misspecification: An empirical analysis on a panel of French manufacturing firms,"
Journal of Macroeconomics,
Elsevier, vol. 28(2), pages 361-374, June.
- Jean-Bernard Chatelain & Jean-Christophe Teurlai, 2006. "Euler investment equation, leverage and cash flow misspecification: An empirical analysis on a panel of French manufacturing firms," Post-Print halshs-00754149, HAL.
- Jean-Bernard Chatelain & Jean-Christophe Teurlai, 2006. "Euler Investment Equation, Leverage and Cash Flow Misspecification: an Empirical Analysis on a Panel of French Manufacturing Firms," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00430853, HAL.
- Peter Skott, 2012.
"Theoretical And Empirical Shortcomings Of The Kaleckian Investment Function,"
Wiley Blackwell, vol. 63(1), pages 109-138, 02.
- Peter Skott, 2008. "Theoretical and empirical shortcomings of the Kaleckian investment function," UMASS Amherst Economics Working Papers 2008-11, University of Massachusetts Amherst, Department of Economics, revised Dec 2009.
- repec:ebl:ecbull:v:28:y:2004:i:18:p:a0 is not listed on IDEAS
- Jean-Bernard Chatelain, 2000. "Explicit Lagrange Multiplier for Firms Facing a Debt Ceiling Constraint," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00119408, HAL.
- Anwar Shaikh, 2009. "Economic Policy In A Growth Context: A Classical Synthesis Of Keynes And Harrod," Metroeconomica, Wiley Blackwell, vol. 60(3), pages 455-494, 07.
- Edwin Le Heron & Tarik Mouakil, 2008. "A Post-Keynesian Stock-Flow Consistent Model For Dynamic Analysis Of Monetary Policy Shock On Banking Behaviour," Metroeconomica, Wiley Blackwell, vol. 59(3), pages 405-440, 07.
- Constantinos Alexiou, 2001. "Crafting a Post Keynesian Macroeconomic Framework to Explain European Unemployment: Econometric Evidence from the European Union Countries," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 24(1), pages 59-80, October.
- Neri Salvadori, 2004. "Economic growth and distribution: on the nature and causes of the wealth of nations," Economics Bulletin, AccessEcon, vol. 28(18), pages A0.
- Philip Arestis & Michelle Baddeley & Malcolm Sawyer, 2007. "The Relationship Between Capital Stock, Unemployment And Wages In Nine Emu Countries," Bulletin of Economic Research, Wiley Blackwell, vol. 59(2), pages 125-148, 04.
When requesting a correction, please mention this item's handle: RePEc:bla:metroe:v:61:y:2010:i:3:p:454-472. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.