The role of autonomous demand growth in a neo-Kaleckian conflicting-claims framework

• 발행기관: 한국사회경제학회
• 저자명: Won Jun Nah Marc Lavoie
• 간행물 정보: 『한국사회경제학회 학술대회 자료집』2017 여름 정기학술대회 자료집, 1~41쪽, 전체 41쪽
• 주제분류: 사회과학 > 사회학
• 파일형태: PDF
• 발행일자: 2017.08.24

영문 초록

This paper incorporates the role of an independently growing autonomous demand component into a neo-Kaleckian model of growth and distribution where the distribution of income is fully endogenized. The model presents the combined dynamic effects of the conflicting-claims, the Sraffian supermultiplier, the Harrodian instability mechanism and the reserve army of labor forces. The key features of the model include the convergence towards the steady state in the long run where it achieves the normal rate of utilization of capacity and the stable rates of employment and inflation. Even with this classical convergence, the model vindicates that some of the main Keynesian tenets still hold even in the long run in the sense that both the average rates of accumulation and utilization decrease during the whole traverse after either an increase in the marginal propensity to save out of profits, or an upward adjustment in the claims on profits, or an enhancement of the bargaining power of capitalists relative to workers.

목차

1. INTRODUCTION

2. The economic environment

3. Short-run equilibrium

4. Medium-run equilibrium

5. Long-run equilibrium

6. Concluding remarks

키워드

neo-Kaleckian growth capacity utilization autonomous expenditures conflicting-claims