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Wage and employment in a finance-led economy

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Abstract

The object of this paper is to analyse the links between income distribution and growth in a finance-led economy, with a post Keynesian "stock-flow" macroeconomic model. In fact, the increased share of financial activities creates a new macroeconomic and income distribution dynamic. We will use the steady-state case and simulations experiments to analyse model reaction to a change in financial key parameter when the wage share is endogenous

Suggested Citation

  • Célia Firmin, 2006. "Wage and employment in a finance-led economy," Cahiers de la Maison des Sciences Economiques r06024, Université Panthéon-Sorbonne (Paris 1).
    • Handle: RePEc:mse:wpsorb:r06024
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    File URL: https://hal.archives-ouvertes.fr/halshs-00113342
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    Keywords

    Financialization; labor's share; capital accumulation; simulations experiments;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers

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