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Public Capital, Redistribution and Growth in A Two†Class Economy

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  • Daniele Tavani
  • Luca Zamparelli

Abstract

We develop a growth model with a productive and redistributive role for the public sector in a two†class economy. We focus on two different model closures: a Classical†Marxian one, which produces endogenous growth, and a Post†Keynesian one where growth is exogenous. When growth is endogenous, the policy maker fixes the long run accumulation rate and the after tax income shares. In the exogenous growth model, the government determines the after tax income shares and the unemployment compensation. In both cases, the policy choice is compared to a benchmark scenario involving no redistribution.

Suggested Citation

  • Daniele Tavani & Luca Zamparelli, 2016. "Public Capital, Redistribution and Growth in A Two†Class Economy," Metroeconomica, Wiley Blackwell, vol. 67(2), pages 458-476, May.
    • Handle: RePEc:bla:metroe:v:67:y:2016:i:2:p:458-476
    DOI: 10.1111/meca.12105
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    Cited by:

    1. Daniele Tavani & Luca Zamparelli, 2020. "Growth, income distribution, and the ‘entrepreneurial state’," Journal of Evolutionary Economics, Springer, vol. 30(1), pages 117-141, January.
    2. Daniele Tavani & Luca Zamparelli, 2017. "Government spending composition, aggregate demand, growth, and distribution," Review of Keynesian Economics, Edward Elgar Publishing, vol. 5(2), pages 239-258, April.
    3. Hiroshi Nishi & Kazuhiro Okuma, 2023. "Fiscal policy and social infrastructure provision under alternative growth and distribution regimes," Evolutionary and Institutional Economics Review, Springer, vol. 20(2), pages 259-286, September.
    4. Antonio Soares Martins Neto & Gilberto Tadeu Lima, 2017. "Competitive Exchange Rate and Public Infrastructure in a Macrodynamic of Economic Growth," Metroeconomica, Wiley Blackwell, vol. 68(4), pages 792-815, November.
    5. Rosas Martínez, Víctor Hugo, 2022. "A theoretical Assessment: The Limit of Governmental Expenditures or Investments on Economic Growth," MPRA Paper 114698, University Library of Munich, Germany.
    6. Leonardo Barros Torres & Gilberto Tadeu Lima & Jaylson Jair da Silveira, 2024. "Endogenous Tax Compliance and Macroeconomic Performance Driven by Satisficing Evolutionary Dynamics," Working Papers, Department of Economics 2024_10, University of São Paulo (FEA-USP).
    7. Hiroshi Nishi & Kazuhiro Okuma, 2023. "Social common capital accumulation and fiscal sustainability in a wage-led growth economy," Working Papers PKWP2305, Post Keynesian Economics Society (PKES).
    8. Stamegna, Marco, 2022. "Wage inequality and induced innovation in a classical-Marxian growth model," MPRA Paper 113805, University Library of Munich, Germany.

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