Heterodox Theories of Economic Growth and Income Distribution: A Partial Survey

Dutt, Amitava Krishna

doi:10.1002/9781119483328.ch5

Cited by 4 publications

(6 citation statements)

References 85 publications

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“…Dutt () and Girardi and Pariboni () are among the studies that include exports as a source of autonomous demand. The rationale may seem obvious and unquestionable: foreign income is an important determinant of exports, and exports make up a significant proportion of aggregate demand in small open economies.…”

Section: The Exogeneity Assumption and ‘The Long Run’mentioning

confidence: 99%

“…Government consumption is highlighted by Allain () and Hein () and also included by Dutt () and Girardi and Pariboni (). As a source of autonomous demand it may seem immune to the problems associated with private consumption and residential investment.…”

Section: The Exogeneity Assumption and ‘The Long Run’mentioning

confidence: 99%

“… See among others, Serrano (), De‐Juán (), Serrano and Freitas (, ), Allain (, ), Cesaratto (), Dutt (), Girardi and Pariboni (), Pariboni (), and Lavoie (). Other contributions, including Hein (), explore the implications of autonomous demand in models without Harrodian instability.…”

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confidence: 99%

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Autonomous demand, Harrodian instability and the supply side

Skøtt

2017

Metroeconomica

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A recent literature introduces autonomous demand as the driver of long-run economic growth and as a stabilizing force that tames Harrodian instability. The argument is unconvincing. The stabilizing e §ect is modest for plausible parameter values and, more importantly, it is questionable whether any components of aggregate demand can be viewed as autonomous in the long run. By contrast, models that include the supply side (the labor market) and/or economic policy can address Harrodian instability and produce level and growth e §ects that resemble those derived in the literature on autonomous demand. JEL numbers: E11, E12, O41

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Section: The Exogeneity Assumption and ‘The Long Run’mentioning

confidence: 99%

Section: The Exogeneity Assumption and ‘The Long Run’mentioning

confidence: 99%

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Autonomous demand, Harrodian instability and the supply side

Skøtt

2017

Metroeconomica

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“…However, capital stock, labor supply, and productivity vary in the long run. Consequently, we follow Dutt (1994) in introducing an additional variable

k=K/Na

, the ratio of capital stock to labor supply in productivity units or the capital‐effective labor supply ratio. In the short run,

k

is fixed and positive, so the employment rate

e=ku

will vary only with demand.…”

Section: Framework Of the Modelmentioning

confidence: 99%

Kalecki meets Schumpeter: The decline of competition in a demand‐led dynamic model

Bottega

Ribeiro

2023

Metroeconomica

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This paper contributes to the post-Keynesian literature by building a macrodynamic Kaleckian model that incorporates recent evidence on market concentration and its relationship with capital accumulation and income distribution using Schumpeterian insights. This is done in two steps.First, we model a two-dimensional system that sets the dynamics between the wage share and the capital-effective labor supply ratio. Then, we extend the model, in the second step, to a three-dimensional system that incorporates the state-transition function of concentration. Our model suggests that higher market concentration may be associated with a permanent decline in employment, capacity utilization, wage share, and capital accumulation.

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“…A literatura empírica na perspectiva pós-keynesiana é bastante influenciada por Kalecki e autores neo-kaleckianos. Em geral, os trabalhos empíricos têm incorporado a função de investimento utilizada pelos modelos de crescimento pós-keynesiano de terceira geração, como os trabalhos de Bhaduri e Marglin (1990), Marglin e Bhaduri (1991) e Dutt (1994).…”

Section: Introductionunclassified

Determinantes Do Investimento Em Capital Fixo No Brasil Em 2007-2017 a Partir De Uma Perspectiva Pós-Keynesiana: Uma Análise Empírica

Meyer

Paula

2023

Rev. econ. contemp.

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RESUMO Este artigo avalia empiricamente os determinantes do investimento privado no Brasil entre 2007 e 2017, a partir de uma abordagem pós-keynesiana, buscando testar se o investimento privado das empresas não financeiras foi afetado pelos processos de financeirização e fragilização financeira à la Minsky. Para tanto, utilizando os dados das empresas não financeiras de capital aberto no período analisado, segmentados em grupos setoriais distintos, a função de investimento é testada por dois métodos de estimação: o Método dos Momentos Generalizados (GMM), em que é realizada uma análise agregada, e o método de análise temporal através do Modelo Autorregressivo com Defasagem Distribuída (ARDL), em que são realizadas análises individuais de cada grupo. Os resultados individuais confirmam a hipótese da relação negativa entre financeirização e investimento produtivo; quanto à alavancagem financeira, os modelos que incorporam todas as empresas com e sem a Petrobras apresentaram um comportamento em que maiores níveis de fragilização financeira afetam negativamente o investimento.

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Heterodox Theories of Economic Growth and Income Distribution: A Partial Survey

Cited by 4 publications

References 85 publications

Autonomous demand, Harrodian instability and the supply side

Autonomous demand, Harrodian instability and the supply side

Kalecki meets Schumpeter: The decline of competition in a demand‐led dynamic model

Determinantes Do Investimento Em Capital Fixo No Brasil Em 2007-2017 a Partir De Uma Perspectiva Pós-Keynesiana: Uma Análise Empírica

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