Bargaining power, effective demand and technical progress: a Kaleckian model of growth
Following the Kaleckian tradition, this paper presents a demand-led growth model in which the distribution of income is fully endogenised. This is done by introducing claims on income by workers and firms. The bargaining power of these two groups affects, through distribution, the patterns of accumulation and inflation. In turn, the bargaining power of workers is affected by the rate of change of employment. The paper discusses the model's static and dynamic implications, including the effects of exogenous and induced technical progress. The model confirms all the typical Kaleckian results, including the fact that increases in real wages may lead to accelerating accumulation as well as inflation. It also produces a new result: it is possible that an increase in the rate of change of labour productivity may not lead to an increase in the rate of change of employment. Copyright 2003, Oxford University Press.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 27 (2003)
Issue (Month): 3 (May)
|Contact details of provider:|| Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK|
Fax: 01865 267 985
Web page: http://www.cje.oupjournals.org/
|Order Information:||Web: http://www.oup.co.uk/journals|
When requesting a correction, please mention this item's handle: RePEc:oup:cambje:v:27:y:2003:i:3:p:449-464. 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: (Oxford University Press)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.