Growth and income distribution with the dynamics of power in labour and goods markets

Michaël Assous and Amitava Dutt

Cambridge Journal of Economics, 2013, vol. 37, issue 6, 1407-1430

Abstract: The interaction between economic growth and income distribution is examined using Kaleckian/post-Keynesian models in which there are lags in investment and in which the dynamics of income distribution between wages and profits depends on changes in power relations in both the labour market and goods market. By examining these two influences on distributional dynamics simultaneously, the relative strength of which can change over the growth process, it is shown that the growth-distributional dynamics can involve non-linearities, multiple equilibria and instability. The implications of policy-induced changes—including those in macroeconomic policy and labour market and antitrust policies—on aggregate demand and distribution are examined for both wage-led and profit-led growth regimes. Copyright , Oxford University Press.

Date: 2013
References: Add references at CitEc
Citations: View citations in EconPapers (15)

Downloads: (external link)
http://hdl.handle.net/10.1093/cje/bes086 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:cambje:v:37:y:2013:i:6:p:1407-1430

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

Cambridge Journal of Economics is currently edited by Jacqui Lagrue

More articles in Cambridge Journal of Economics from Cambridge Political Economy Society Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().