A Steindlian Model of Income Distribution, Economic Growth, and Stagnation

Christina Anselmann ()
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Christina Anselmann: University of Hohenheim

Chapter Chapter 8 in Secular Stagnation Theories, 2020, pp 195-239 from Springer

Abstract: Abstract In line with the classical and post-Keynesian/Kaleckian tradition, in his original demand-side stagnation theory Josef Steindl focused on the functional distribution of income. In this chapter, Steindl’s twentieth-century theoretical model is adjusted to also include the personal distribution of income. The extended model includes both the profit share and a measure of the personal distribution of income. Based on a comparative static analysis, it is shown that economic shocks which lead to an increase in the unequal distribution of personal income and/or a rise in the profit share can be accompanied by a slowdown in long-term economic growth. Moreover, it is pointed out that changes in the long-term rate of economic growth feed back on both the personal and functional distribution of income.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spshcp:978-3-030-41087-2_8

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DOI: 10.1007/978-3-030-41087-2_8

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