Demand and Income Distribution in a Two-Country Kaleckian Model

Hiroaki Sasaki and Shinya Fujita

Discussion papers from Graduate School of Economics Project Center, Kyoto University

Abstract: This study builds a two-country Kaleckian model and investigates the effect of one country’s economic policy on both countries. In contrast to preceding studies, we consider monetary aspects as well as real aspects. Our results show that the effects on output of an increase in the nominal wage rate and in the mark-up rate differ from the results obtained from one-country Kaleckian models. Moreover, we show that the success of monetary easing in one country may depend on the other country’s policy, implying the need for policy coordination between the two countries.

Keywords: two-country Kaleckian model; income distribution; monetary policy (search for similar items in EconPapers)
JEL-codes: E12 E41 E52 F31 F41 F42 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2015-02
New Economics Papers: this item is included in nep-mac, nep-mfd, nep-mon, nep-opm and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:kue:dpaper:e-14-017

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