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Balance-of-payments-constrained Cyclical Growth with Distributive Class Conflicts and Productivity Dynamics
| Content Provider | Semantic Scholar |
|---|---|
| Author | Nishi, Hiroshi |
| Copyright Year | 2018 |
| Abstract | This study builds a dynamic balance-of-payments-constrained (BOPC) model that incorporates the endogenous determination of the economic growth rate, conflictive wage /price distribution, and employment rate. Following the Kaleckian–Marxian literature, wages and commodity prices are determined by the reserve army e ffect and employment is determined by the reserve army creation e ff ct. The relative strength of these two e ffects generates different outcomes for the transitional dynamics and comparative statics analysis. In particular, the model shows stability, instability, and a cyclical nature, the latter of concurs with the evidence reported by previous empirical studies. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | https://mpra.ub.uni-muenchen.de/86780/1/MPRA_paper_86780.pdf |
| Language | English |
| Access Restriction | Open |
| Subject Keyword | Conflict (Psychology) Economic Growth Instability payment |
| Content Type | Text |
| Resource Type | Article |
