Income Distribution and Economic Growth in a Multi-Sectoral Kaleckian Model
Hiroshi Nishi
Discussion papers from Graduate School of Economics Project Center, Kyoto University
Abstract:
This study builds an income distribution and growth model within a simple multi-sectoral Kaleckian framework. The model has heterogeneous features in each sector in that the responses of saving and investment to changes in macroeconomic performance differ sectorally, and there are also different sectoral shares of saving and investment. We consider the determinants that establish the economic growth regime (i.e. wage-led and profit-led) and the stable output growth rate adjustment within this framework. By doing so, we reveal the sectoral composition of saving and investment and that elasticity of saving and investment matter for the formation of a growth regime and the stability of the output growth rate at the aggregate level.
Keywords: Multi-sectoral Kaleckian model; Income distribution; Sectoral heterogeneity (search for similar items in EconPapers)
JEL-codes: B50 E12 O41 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2014-10
New Economics Papers: this item is included in nep-gro, nep-mac and nep-pke
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Citations: View citations in EconPapers (1)
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Persistent link: https://EconPapers.repec.org/RePEc:kue:dpaper:e-14-011
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