The Profit-Investment-Unemployment nexus and Capacity Utilization in a Stock-Flow Consistent Model

Jean-Bernard Chatelain

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Abstract: This paper studies under which conditions the share of profit in value-added, financial constraints on investment and capital shortage may foster unemployment and may limit the growth of capital and/or the growth of aggregate demand, in a stock-flow consistent model. The efficiency of demand-side versus supply-side economic policies (decrease of the real interest rate and/or of the real wage, increase of the leverage ceiling constraint) depends on capital shortage and credit rationing, which are not necessarily simultaneous due to the effects of investment on aggregate demand and supply.

Date: 2010
Note: View the original document on HAL open archive server: https://hal.science/hal-00645155
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Published in Metroeconomica, 2010, 61 (3), pp.454-472. ⟨10.1111/j.1467-999X.2009.04074.x⟩

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Related works:
Journal Article: THE PROFIT–INVESTMENT–UNEMPLOYMENT NEXUS AND CAPACITY UTILIZATION IN A STOCK‐FLOW CONSISTENT MODEL (2010)
Working Paper: The Profit-Investment-Unemployment nexus and Capacity Utilization in a Stock-Flow Consistent Model (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00645155

DOI: 10.1111/j.1467-999X.2009.04074.x

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