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Regimes of Interest Rates , Income Shares , Savings , and Investment : A Kaleckian Model and Empirical Estimations for some Advanced OECD-Economies
| Content Provider | Semantic Scholar |
|---|---|
| Author | Hein, Eckhard Ochsen, Carsten |
| Copyright Year | 2001 |
| Abstract | The first part of the paper deals with the effects of an exogenous variation in the monetary interest rate on the real equilibrium position of the economic system in a Kaleckian effective demand model. Different regimes of accumulation are derived and it is shown that a negative relation between the interest rate and the equilibrium rates of capacity utilisation, accumulation and profit usually expected in post-Keynesian theory only exists under special conditions. In the second part the model is applied to the data of some major OECD-countries, the relevant coefficients are estimated and the relevance for an explanation of the course of GDP and capital stock growth since the early 1960s is discussed. # Paper to be presented at the conference “Old and New Growth Theories: an Assessment”, Pisa, October 5-7, 2001. We would like to thank the participants in research seminars at the Universities of Chemnitz, Hohenheim and Oldenburg for helpful comments on earlier versions of the paper. Remaining errors are ours. * Direct correspondence to: Dr. Eckhard Hein, Wirtschaftsund Sozialwissenschaftliches Institut (WSI) in der Hans Boeckler Stiftung, Bertha-v.-Suttner-Platz 1, 40227 Duesseldorf, Germany; eckhard-hein@boeckler.de. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://growthconf.ec.unipi.it/papers/Hein.pdf |
| Alternate Webpage(s) | http://growthconf.ec.unipi.it/sessions/acceptedAbstractsPDF/HeinAbs.PDF |
| Language | English |
| Access Restriction | Open |
| Subject Keyword | Accidental Falls Aggregate data Breakpoint Coefficient Conditional (computer programming) Coombs Test Emoticon Erosion (morphology) Estimated Fecal occult blood test Guanosine Diphosphate IGL-1 solution Instability Institut für Unternehmenskybernetik Kind of quantity - Equilibrium Labor (Childbirth) Money Neoplastic disease Note (document) Organisation for Economic Co-Operation and Development Relevance Responsiveness Tree accumulation Universities Version Wafer-scale integration chow chow |
| Content Type | Text |
| Resource Type | Article |
