The paper studies endogenous employment and distribution dynamics in a Post-Keynesian growth model of the Kalecki–Steindl tradition. Abstract: Productivity adjustments stabilise employment and the labour share in the long run: technological change allows firms to replenish the reserve army of workers in a struggle over income shares and thereby keeps wage demands in check. Labour market dynamics follow from separate wage and price curves. The authors discuss stability conditions and the equilibrium dynamics and investigate how legal working time and its reduction affect this equilibrium

Stefan Ederer and Armon Rezai

Review of Keynesian Economics, 2022, vol. 10, issue 3, 355-381

Keywords: Post-Keynesian economics; productivity; technological change; income distribution; employment; economic growth; working time (search for similar items in EconPapers)
JEL-codes: D33 E12 E24 O40 (search for similar items in EconPapers)
Date: 2022
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