On the dynamics of profit-led and wage-led growth

Cambridge Journal of Economics

Volumn 32, Issue 1, 2008, Pages 147-160

  Bhaduri, Amit ^a  

^a NONE

Author keywords

Forced saving; In and out of equilibrium dynamics; Liapunov stability; Local; Multiplier; Profit squeeze; Profit led; Stable unstable bifurcation; Wage led

Indexed keywords

BIFURCATION; ECONOMIC GROWTH; INVESTMENT; KEYNESIAN THEORY; PROFITABILITY; SAVINGS; WAGE;

EID: 38749083459     PISSN: 0309166X     EISSN: 14643545     Source Type: Journal    
DOI: 10.1093/cje/bem012     Document Type: Article

References (32)

1. Arrowsmith, D. K. and Place, C. M. 1982. Ordinary Differential Equations, ch. 5, London, Clapham and Hall
2. Baker, D. 2006. The menace of an unchecked housing bubble, Economists' Voice, Berkeley Electronic Press, www.bepress.com/eu, March 1-5
3. Bhaduri, A. 2005. On different regimes of accumulation, pp. 195-203 in Gibson, W. (ed.), Joan Robinson's Economics, Cheltenham, Edward Elgar
4. Bhaduri, A. and Marglin, S. 1990. Unemployment and the real wage: The economic basis for contesting political ideologies, Cambridge Journal of Economics, vol. 14, 375-93
5. Bhaduri, A., Laski, K. and Riese, M. 2006. A model of interaction between the virtual and the real economy, Metroeconomica, vol. 57, 412-27
6. Blachand, O. J. 1990. Why does money affect output, in Friedman, B. M. and Hahn, F. H. (eds), Handbook of Monetary Economics, Amsterdam, Elsevier
7. Campbell, J. and Cocco, J. 2006. 'How Do House Prices Affect Consumption? Evidence from Microdata' NBER Working Paper No. 11534, February
8. Chiarella, C. and Flaschel, P. 2000. The Dynamics of Keynesian Monetary Growth: Macrofoundation, Cambridge, Cambridge University Press
9. Foley, D. and Mitchl, T. 1999. Distribution and Growth, Harvard, Harvard University Press
10. Friedman, M. 1968. The role of monetary policy, American Economic Review, vol. 58, 1-17
11. Gandolfo, G. 1996. Economic Dynamics 3rd edn, ch. 23, Berlin, Springer
12. Goodwin, R. 1967. A growth cycle, in Feinstein, C. H. (ed.), Socialism, Capitalism and Growth, Cambridge, Cambridge University Press
13. Hicks, J. R. 1967. The Fundamental equation of the Treatise, in Hicks, J. R. (ed.), Critical Essays in Monetary Theory, London, Oxford University Press
14. Hicks, J. R. 1974. The Crisis of Keynesian Economics, Oxford, Clarendon Press
15. Kahn, R. F. 1972. Selected Essays in Employment and Growth, Cambridge, Cambridge University Press
16. Kaldor, N. 1956. Alternative theories of distribution, Review of Economic Studies, vol. 23, 83-100
17. Kalecki, M. 1971. Selected Essays in the Dynamics of the Capitalist Economy, 1933-1970, Cambridge, Cambridge University Press
18. Kalecki, M. 1976. The problem of financing economic development in a mixed economy, in Kalecki, M. (ed.), Essays on Developing Economies Hassocks, Harvester Press
19. Keynes, J. M. 1930. A Treatise on Money, Volume I, London, Macmillan
20. Keynes, J. M. 1936. The General Theory of Employment, Interest and Money, London, Macmillan
21. Keynes, J. M. 1937. The General Theory: Fundamental concepts and ideas, Quarterly Journal of Economics, vol. 51, 1-19
22. Keynes, J. M. 1939. Relative movements of real wages and output, Economic Journal, vol. 49, 34-51
23. Keynes, J. M. 1940. How to Pay for the War, London, Macmillan
24. Maki, D. M. and Palumbo, M. G. 2001. 'Disentangling the wealth effect: A cohort analysis of household saving in the 1990s' Mimeo, Board of Governors of the Federal Reserve System
25. Marglin, S. and Bhaduri, A. 1990. Profit squeeze and the Keynesian theory in Marglin, S. and Schor, J. (eds), The Golden Age of Capitalism, Oxford, Clarendon Press; Cambridge, MA, Harvard University Press
26. Okun, A. M. 1981. Prices and Quantities. A Macroeconomic Analysis, Washington, The Brookings Institute
27. Pasinetti, L. L. 1962. The rate of profit and income distribution in relation to the rate of economic growth, Review of Economic Studies vol. 29, 267-79
28. Samuelson, P. 1966. A summing up, Quartely Journal of Economics, vol. 80, 568-3
29. Skott, P. 1989. Conflict and Effective Demand in Economic Growth, Cambridge, Cambridge University Press
30. Sraffa, P. 1960. Production of Commodities by means of Commodities, Prelude to a Critique of Economic Theory, Cambridge, Cambridege University Press
31. Taylor, L. 2004. Reconstructing Macroeconomics, Cambridge, MA, Harvard University Press
32. Trevithick, J. A. 1975. Keynes, inflation and money illusion, Economic Journal, vol. 85, 71-82