EconPapers    
Economics at your fingertips  
 

Finance-Dominated Capitalism and Income Distribution: A Kaleckian Perspective on the Case of Germany

Eckhard Hein and Daniel Detzer

Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, 2015, vol. 1, issue 2, 171-191

Abstract: We present an investigation into the long-run effects of financialisation on income distribution before the financial and economic crises for Germany, one of the major mercantilist export-led economies. The analysis builds on a Kaleckian approach towards the examination of the effects of financialisation on income distribution, as suggested by Hein (Camb J Econ. doi: 10.1093/cje/bet038 , 2014a ). First, we show that Germany saw considerable re-distribution of income starting in the early 1980s, which accelerated in the early 2000s, in particular. Examining the three main channels through which financialisation (and neo-liberalism) are supposed to have affected the wage or the labour income share, according to the Kaleckian approach, we provide evidence for the existence of each of these channels in Germany since the mid-1990s, when several institutional changes provided the conditions for an increasing dominance of finance. Copyright Società Italiana degli Economisti (Italian Economic Association) 2015

Keywords: Finance-dominated capitalism; Distribution of income; Kaleckian distribution theory; Germany; D31; D33; D43 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7) Track citations by RSS feed

Downloads: (external link)
http://hdl.handle.net/10.1007/s40797-014-0001-4 (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Finance-dominated capitalism and income distribution: a Kaleckian perspective on the case of Germany (2014) Downloads
Working Paper: Finance-dominated capitalism and income distribution: A Kaleckian perspective on the case of Germany (2014) Downloads
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:spr:italej:v:1:y:2015:i:2:p:171-191

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/40797

Access Statistics for this article

Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti is currently edited by Roberto Cellini

More articles in Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti from Springer, Società Italiana degli Economisti (Italian Economic Association) Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla ().

 
Page updated 2019-10-18
Handle: RePEc:spr:italej:v:1:y:2015:i:2:p:171-191