IDEAS home Printed from https://ideas.repec.org/p/toh/tergaa/237.html
   My bibliography  Save this paper

Endogenous Technological Change and Distribution with Inter-Class Conflict: A Kaleckian Model of Growth

Author

Listed:
  • Hiroaki Sasaki

Abstract

This paper presents a Kaleckian model of growth in which both technological change and income distribution are endogenously determined by inter-class conflict between capitalists and workers. Considering the adjustment speed of variables, we investigate the medium-run equilibrium and the long-run equilibrium. In the medium run, the rate of capital accumulation and the profit share are adjusted to the medium-run equilibrium. In the long run, the normal planned rate of capacity utilization and the growth rate of labor productivity are adjusted to the long-run equilibrium. In the analysis, two alternative investment functions are used: a Kalecki type investment function and a Marglin and Bhaduri (1990) type investment function. We show that different results are obtained both in the medium run and in the long run depending on which investment function is used.

Suggested Citation

  • Hiroaki Sasaki, 2008. "Endogenous Technological Change and Distribution with Inter-Class Conflict: A Kaleckian Model of Growth," TERG Discussion Papers 237, Graduate School of Economics and Management, Tohoku University.
  • Handle: RePEc:toh:tergaa:237
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10097/55390
    Download Restriction: no

    References listed on IDEAS

    as
    1. Stockhammer, Engelbert & Onaran, Ozlem, 2004. "Accumulation, distribution and employment: a structural VAR approach to a Kaleckian macro model," Structural Change and Economic Dynamics, Elsevier, vol. 15(4), pages 421-447, December.
    2. Lavoie, M., 1992. "The Kaleckian Model of Growth and Distribution and its Neo-Ricardian and Neo-Marxian Critiques," Working Papers 9201e, University of Ottawa, Department of Economics.
    3. Engelbert Stockhammer, 2004. "Is there an equilibrium rate of unemployment in the long run?," Review of Political Economy, Taylor & Francis Journals, pages 59-77.
    4. Amit Bhaduri, 2006. "Endogenous economic growth: a new approach," Cambridge Journal of Economics, Oxford University Press, vol. 30(1), pages 69-83, January.
    5. Mario Cassetti, 2006. "A note on the long-run behaviour of Kaleckian models," Review of Political Economy, Taylor & Francis Journals, vol. 18(4), pages 497-508.
    6. Srinivas Raghavendra, 2006. "Limits to Investment Exhilarationism," Journal of Economics, Springer, pages 257-280.
    7. You, Jong-Il, 1994. "Macroeconomic Structure, Endogenous Technical Change and Growth," Cambridge Journal of Economics, Oxford University Press, vol. 18(2), pages 213-234, April.
    8. Lavoie, Marc, 1995. "The Kaleckian Model of Growth and Distribution and Its Neo-Ricardian and Neo-Marxian Critiques," Cambridge Journal of Economics, Oxford University Press, vol. 19(6), pages 789-818, December.
    9. Gilberto Tadeu Lima, 2004. "Endogenous Technological Innovation, Capital Accumulation And Distributional Dynamics," Metroeconomica, Wiley Blackwell, vol. 55(4), pages 386-408, November.
    10. 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.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:toh:tergaa:237. 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: (Tohoku University Library). General contact details of provider: http://edirc.repec.org/data/fetohjp.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.