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Distributional dynamics in Post Keynesian growth models

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  • Amitava Dutt

Abstract

This paper uses a set of simple Post Keynesian models of growth and distribution to provide a systematic analysis of how growth affects income distribution through a number of alternative channels, thereby making possible a more complete analysis of the interaction between growth and distribution than is possible in simpler models that concentrate on the effect of distributional changes on growth. It draws on Kalecki's discussion of the determinants of changes in the degree of monopoly analyzing, in turn, the influences of capacity utilization, industry characteristics, the importance of overhead costs, and the power of trade unions. It shows that a rich variety of dynamic outcomes can follow from the analysis of growth-distribution interactions and points to the importance of distinguishing between short-term and more long-term dynamics.

Suggested Citation

  • Amitava Dutt, 2012. "Distributional dynamics in Post Keynesian growth models," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 34(3), pages 431-452.
  • Handle: RePEc:mes:postke:v:34:y:2012:i:3:p:431-452
    DOI: 10.2753/PKE0160-3477340303
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    File URL: http://hdl.handle.net/10.2753/PKE0160-3477340303
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    Citations

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    Cited by:

    1. Robert A. Blecker, 2015. "Wage-led Versus Profit-led Demand Regimes: The Long and Short of It," Working Papers 2015-05, American University, Department of Economics.
    2. Hiroshi Nishi, 2014. "Varieties of economic growth regimes, types of macroeconomic policies and policy regimes: a post-Keynesian analysis," Chapters,in: Economic Crises and Policy Regimes, chapter 5, pages 101-123 Edward Elgar Publishing.
    3. Casey, Gregory P. & Owen, Ann L., 2014. "Inequality and Fractionalization," World Development, Elsevier, vol. 56(C), pages 32-50.
    4. Brendan Markey-Towler & John Foster, 2013. "Why economic theory has little to say about the causes and effects of inequality," Discussion Papers Series 476, School of Economics, University of Queensland, Australia.
    5. Hein, Eckhard, 2016. "Post-Keynesian macroeconomics since the mid-1990s: Main developments," IPE Working Papers 75/2016, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    6. Hein, Eckhard, 2016. "The Bhaduri/Marglin post-Kaleckian model in the history of distribution and growth theories: An assessment by means of model closures," IPE Working Papers 66/2016, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    7. Greg Hannsgen, 2013. "Heterodox Shocks," Economics Working Paper Archive wp_766, Levy Economics Institute.

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