Goodwin Cycles, Distributional Conflict, and Productivity Growth

Armon Rezai

No 1110, Working Papers from New School for Social Research, Department of Economics

Abstract: A combination of an investment-driven macroeconomy and a conflict determined income distribution gives cyclical behavior. Models of wage-price inflation can be nested in the Goodwinian tradition. Endogenous technical change has ambiguous effects on equilibrium: Kaldor-Verdoorn effects increase the wage share’s responsiveness to changes in output, while labor-saving technical change reduces it.

Keywords: Goodwin Cycles; Wage-Price Spirals; Demand Regimes; Profit Squeeze; Endogenous Technical Change; Kalecki-Keynes model (search for similar items in EconPapers)
JEL-codes: B5 E12 E24 E31 E32 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2011-10
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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http://www.economicpolicyresearch.org/econ/2011/NSSR_WP_102011.pdf First version, 2011 (application/pdf)

Related works:
Journal Article: GOODWIN CYCLES, DISTRIBUTIONAL CONFLICT AND PRODUCTIVITY GROWTH (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:new:wpaper:1110

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