Politique des dividendes et stabilité macroéconomique

Sebastien Charles

Recherches économiques de Louvain, 2012, vol. 78, issue 1, 75-91

Abstract: This article explores the consequences of an endogenous dividend policy in the context of a Cambridge model of growth and distribution. In this logic, we take into account the interactions between the retention ratio and the level of debt and investigate the conditions for macroeconomic stability. Then, we show that financial instability arises from less prudent behaviours from firms? managers with respect to distributed profits. Finally, some numerical simulations illustrate the results previously obtained. JEL classification: E12, E44, G35

Keywords: endogenous retention rate; instability; cambridgian model (search for similar items in EconPapers)
JEL-codes: E12 E44 G35 (search for similar items in EconPapers)
Date: 2012
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Working Paper: Politique des dividendes et stabilité macroéconomique (2012)
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