Technical progress and maturity in a Kaleckian model of growth with an endogenous employment rate
We develop a Kaleckian model of growth with an endogenous employment rate and investigate the features following Cassetti(2003) which has considered bargaining power of workers and firms and technical progress. We assume that both of the target wage share and the technical progress depend on the rate of change of employment rate, and they become zero in steady state. We also assume that capital accumulation is a decreasing function in employment to consider maturity which defines the present capitalism society. From the above refinements, we get results different from Cassetti(2003). An increase in the saving rate does not make the growth rate decrease, but the utilization decrease. In addition to that, an increase in the rate of labor productivity exerts a positive impact on growth.
|Date of creation:||Jan 2012|
|Date of revision:|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
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.:
- Dutt, Amitava Krishna, 1992. "Conflict inflation, distribution, cyclical accumulation and crises," European Journal of Political Economy, Elsevier, vol. 8(4), pages 579-597, December.
- Hiroaki SASAKI, 2009.
"Endogenous Technological Change, Income Distribution, and Unemployment with Inter-Class Conflict,"
TERG Discussion Papers
245, Graduate School of Economics and Management, Tohoku University.
- Sasaki, Hiroaki, 2010. "Endogenous technological change, income distribution, and unemployment with inter-class conflict," Structural Change and Economic Dynamics, Elsevier, vol. 21(2), pages 123-134, May.
- Peter Skott, 2011. "Heterodox macro after the crisis," UMASS Amherst Economics Working Papers 2011-23, University of Massachusetts Amherst, Department of Economics.
- Hiroaki Sasaki, 2011. "Conflict, growth, distribution, and employment: a long-run Kaleckian model," International Review of Applied Economics, Taylor & Francis Journals, vol. 25(5), pages 539-557, September.
- Amitava Krishna Dutt, 2006. "Aggregate Demand, Aggregate Supply and Economic Growth," International Review of Applied Economics, Taylor & Francis Journals, vol. 20(3), pages 319-336.
- Peter Skott, 2008.
"Theoretical and empirical shortcomings of the Kaleckian investment function,"
UMASS Amherst Economics Working Papers
2008-11, University of Massachusetts Amherst, Department of Economics, revised Dec 2009.
- Peter Skott, 2012. "Theoretical And Empirical Shortcomings Of The Kaleckian Investment Function," Metroeconomica, Wiley Blackwell, vol. 63(1), pages 109-138, 02.
- Peter Skott, Ben Zipperer, 2010.
"An empirical evaluation of three post Keynesian models,"
UMASS Amherst Economics Working Papers
2010-08, University of Massachusetts Amherst, Department of Economics.
- Peter Skott & Ben Zipperer, 2012. "An empirical evaluation of three post-Keynesian models," European Journal of Economics and Economic Policies: Intervention, Edward Elgar, vol. 9(2), pages 277-307.
- Peter Flaschel & Peter Skott, 2006.
"Steindlian Models Of Growth And Stagnation,"
Wiley Blackwell, vol. 57(3), pages 303-338, 07.
- Marglin, Stephen A, 1984. "Growth, Distribution, and Inflation: A Centennial Synthesis," Cambridge Journal of Economics, Oxford University Press, vol. 8(2), pages 115-44, June.
- Mario Cassetti, 2003. "Bargaining power, effective demand and technical progress: a Kaleckian model of growth," Cambridge Journal of Economics, Oxford University Press, vol. 27(3), pages 449-464, May.
- Dutt, Amitava Krishna, 1984. "Stagnation, Income Distribution and Monopoly Power," Cambridge Journal of Economics, Oxford University Press, vol. 8(1), pages 25-40, March.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:37308. 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: (Joachim Winter)
If references are entirely missing, you can add them using this form.