Functional Distribution, Capital Accumulation And Growth In A Non-Linear Macrodynamic Model
It is developed a macrodynamic model of distribution, capital accumulation and growth in which investment is non-linear in distribution: at low (high) levels of wage share, the impact of a higher profit share on investment is negative (positive). This specification conforms with some of the empirical evidence for the rise and fall of the Golden Age in several advanced economies. As it turns out, whether the economy follows a wage-led growth regime or a profit-led one depends on the prevailing distribution. Indeed, a similar dependence applies, alongside with the relative bargaining power of capitalists and workers and the cyclical behavior of markups, to the dynamic stability properties of the economy.
|Date of creation:||2005|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: 55 21 2709 7154
Web page: http://www.anpec.org.br
More information through EDIRC
|Order Information:|| Postal: Secretaria da ANPEC Rua Tiradentes, 17 - Ingá Niterói, RJ 24210-510 Brazil|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Glyn, Andrew, 1997.
"Does Aggregate Profitability Really Matter?,"
Cambridge Journal of Economics,
Oxford University Press, vol. 21(5), pages 593-619, September.
- Kristin J. Forbes, 2000. "A Reassessment of the Relationship between Inequality and Growth," American Economic Review, American Economic Association, vol. 90(4), pages 869-887, September.
When requesting a correction, please mention this item's handle: RePEc:anp:en2005:057. 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: (Hugo E. A. da Gama Cerqueira)
If references are entirely missing, you can add them using this form.