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A note on application of Miyazawa’s multiplier to multisector model of evolutionary economics

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  • Tsutomu Yoshioka

    (Toyo University)

Abstract

This paper aims to show one of the ways of introducing income distribution into the model of evolutionary economics presented by Shiozawa et al. (Microfoundations of evolutionary economics. Springer Japan, Tokyo, 2019). We use Miyazawa’s income distribution model to extend the model of evolutionary economics. An input–output model developed by Miyazawa includes the household sector as an endogenous sector. His model enables us to examine the circular flow between production, distribution, and expenditure. An increase in expenditure will induce additional production, which in turn will generate new income, and this income will stimulate consumption. Since the model developed by Shiozawa et al. (2019) and the input–output model both can analyse the production process and consider the adoption of a single production technique by a firm, Miyazawa’s model can be applied to the model of evolutionary economics. To use Miyazawa’s model, we focus on the simplest case in Shiozawa et al. (2019). This paper shows how Miyazawa’s model can be used to incorporate the impact of income distribution into the model of evolutionary economics.

Suggested Citation

  • Tsutomu Yoshioka, 2023. "A note on application of Miyazawa’s multiplier to multisector model of evolutionary economics," Evolutionary and Institutional Economics Review, Springer, vol. 20(2), pages 483-494, September.
    • Handle: RePEc:spr:eaiere:v:20:y:2023:i:2:d:10.1007_s40844-023-00258-8
    DOI: 10.1007/s40844-023-00258-8
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    References listed on IDEAS

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    1. Yoshio Kimura & Hitoshi Kondo, 1999. "Revisiting Miyazawa on Multisectoral Multipliers," Advances in Spatial Science, in: Geoffrey J. D. Hewings & Michael Sonis & Moss Madden & Yoshio Kimura (ed.), Understanding and Interpreting Economic Structure, chapter 3, pages 53-71, Springer.
    2. Yoshinori Shiozawa, 2020. "A new framework for analyzing technological change," Journal of Evolutionary Economics, Springer, vol. 30(4), pages 989-1034, September.
    3. Yoshio Inoue, 2021. "A review on Yoshinori Shiozawa, Masashi Morioka, and Kazuhisa Taniguchi, Microfoundations of Evolutionary Economics, Springer, 2019," Evolutionary and Institutional Economics Review, Springer, vol. 18(1), pages 341-359, April.
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    Cited by:

    1. Kazuhiro Kurose & Hiroshi Nishi, 2023. "Special issue: microfoundation of evolutionary economics and its application," Evolutionary and Institutional Economics Review, Springer, vol. 20(2), pages 321-328, September.

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    More about this item

    Keywords

    Multisector model; Income distribution; Miyazawa’s model; Input–output analysis;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis

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