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The Implications of Financial Asset and Housing Markets on Profit- and Wage-led Growth: Some Results in Comparative Statics

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  • Amit Bhaduri

Abstract

This paper presents a number of extensions to the theory of profit- and wage-led growth by integrating selected aspects of asset markets and housing markets. Theoretical results from comparative statics are then presented and discussed, notably with reference to recent housing market bubbles. The exposition incorporates distributional aspects relating to different classes of economic agents and how those differences relate to wage income versus profit income.

Suggested Citation

  • Amit Bhaduri, 2010. "The Implications of Financial Asset and Housing Markets on Profit- and Wage-led Growth: Some Results in Comparative Statics," wiiw Working Papers 62, The Vienna Institute for International Economic Studies, wiiw.
    • Handle: RePEc:wii:wpaper:62
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    File URL: https://wiiw.ac.at/the-implications-of-financial-asset-and-housing-markets-on-profit-and-wage-led-growth-some-results-in-comparative-statics-dlp-2127.pdf
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    More about this item

    Keywords

    profit-led growth; wage-led growth; asset market; housing market; stability; forced saving; profit squeeze; distribution and growth theories; effective demand;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

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