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Macroeconomic Structure, Endogenous Technical Change and Growth


  • You, Jong-Il


This paper shows the relevance of the macroeconomic structure that governs short-term changes in aggregate demand and income distribution in the determination of long-term growth rates. It develops a new growth model by introducing endogenous technical change into a Keynesian/Marxist synthesis model of accumulation and distribution. This model has multiple equilibria--a high-growth equilibrium that is stable if rising wage share leads to an increase in investment and real wages are somewhat rigid and a low-growth equilibrium that is stable under opposite circumstances. Based on this result, the paper discusses how institutions and history matter in long-term growth. Copyright 1994 by Oxford University Press.

Suggested Citation

  • You, Jong-Il, 1994. "Macroeconomic Structure, Endogenous Technical Change and Growth," Cambridge Journal of Economics, Oxford University Press, vol. 18(2), pages 213-234, April.
  • Handle: RePEc:oup:cambje:v:18:y:1994:i:2:p:213-34

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    Cited by:

    1. Gilberto Tadeu Lima, 2000. "Market concentration and technological innovation in a dynamic model of growth and distribution," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 53(215), pages 447-475.
    2. Poganietz, Witold-Roger, 1997. "Vermindern Transferzahlungen Den Konflikt Zwischen Gewinnern Und Verlierern In Einer Sich Transformierenden Volkswirtschaft?," IAMO Discussion Papers 14902, Institute of Agricultural Development in Transition Economies (IAMO).
    3. Ha-Joon Chang & Ali Cheema & L. Mises, 2002. "Conditions For Successful Technology Policy In Developing Countries—Learning Rents, State Structures, And Institutions," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 11(4-5), pages 369-398.
    4. Olivier Allain, 2006. "La modération salariale : le point de vue des (néo-)kaleckiens," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00196500, HAL.
    5. Sasaki, Hiroaki, 2010. "Endogenous technological change, income distribution, and unemployment with inter-class conflict," Structural Change and Economic Dynamics, Elsevier, vol. 21(2), pages 123-134, May.
    6. K. Watanabe, 1997. "An endogenous growth model with endogenous money supply. Integration of post-Keynesian growth model," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 50(200), pages 89-120.
    7. Poganietz, Witold-Roger, 1997. "Vermindern Transferzahlungen den Konflikt zwischen Gewinnern und Verlierern in einer sich transformierenden Volkswirtschaft?," IAMO Discussion Papers 7, Leibniz Institute of Agricultural Development in Transition Economies (IAMO).
    8. repec:eme:rpeczz:s0161-723020170000032006 is not listed on IDEAS
    9. Hiroshi Nishi, 2012. "On the Short-run Relationship between the Income Distribution- and Finance-Growth Regimes," Discussion papers e-12-001, Graduate School of Economics Project Center, Kyoto University.
    10. Estrada, Fernando & Trujillo, Marlyn Tatiana & Pardo, Diego, 2018. "Política Fiscal, Ingresos y Desigualdad en Colombia (1990-2015)
      [Fiscal Policy, Income And Inequality In Colombia (1990-2015)]
      ," MPRA Paper 88748, University Library of Munich, Germany.
    11. Gilberto Tadeu Lima, 2003. "A Non-linear Development Dynamics of Capital Accumulation, Distribution and Technological Innovation," Anais do XXXI Encontro Nacional de Economia [Proceedings of the 31st Brazilian Economics Meeting] b05, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    12. K. Watanabe, 1997. "An endogenous growth model with endogenous money supply. Integration of post-Keynesian growth model," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 50(200), pages 89-120.
    13. Sangjun Jeong, 2017. "Biased Technical Change and Economic Growth: The Case of Korea, 1970–2013," Research in Political Economy, in: Masao Ishikura & Seongjin Jeong & Minqi Li (ed.), Return of Marxian Macro-Dynamics in East Asia, volume 32, pages 81-103, Emerald Publishing Ltd.
    14. Köhler, Kasper, 2018. "The limits to profit-wage redistribution: Endogenous regime shifts in Kaleckian models of growth and distribution," IPE Working Papers 112/2018, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    15. Hiroaki Sasaki, 2008. "Endogenous Technological Change and Distribution with Inter-Class Conflict: A Kaleckian Model of Growth," TERG Discussion Papers 237, Graduate School of Economics and Management, Tohoku University.

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