Distribution and Growth in an Economy with Heterogeneous Capital and Excess Capacity
In a world of heterogeneous capital the aggregate capital-capacity ratio can change in a complicated way as the real wage rate changes and, therefore, nothing useful can be said, a priori, about the relationships between the real wage rate (or the aggregate profit share), the degree of capacity utilization and the rates of profit, capital accumulation and interest.
|Date of creation:||Jan 2007|
|Publication status:||Published in Asian-African Journal of Economics and Econometrics 1-2.7(2007): pp. 365-375|
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Web page: https://mpra.ub.uni-muenchen.de
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- Eckhard Hein, 2007.
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"Traverse in a Two-Sector Kaleckian Model of Growth with Target-Return Pricing,"
The Manchester School of Economic & Social Studies,
University of Manchester, vol. 65(2), pages 145-169, March.
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- Dutt, Amitava Krishna, 1997. "Profit-Rate Equalization in the Kalecki-Steindl Model and the "Over-Determination" Problem," The Manchester School of Economic & Social Studies, University of Manchester, vol. 65(4), pages 443-451, September.
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- Reiner Franke, 1999. "Technical Change and a Falling Wage Share if Profits are Maintained," Metroeconomica, Wiley Blackwell, vol. 50(1), pages 35-53, February.
- Eckhard Hein, 2006. "On the (in-)stability and the endogeneity of the "normal" rate of capacity utilisation in a post-Keynesian/Kaleckian "monetary" distribution and growth model," IMK Working Paper 02-2006, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
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