Cyclical growth in a Goodwin–Kalecki–Marx model

• 佐々木, 啓明

抄録

This paper presents a disequilibrium macrodynamic model that incorporates certain elements from Goodwin (the dynamics of the rate of employment and income distribution), Kalecki (an investment function independent of savings, and mark-up pricing in oligopolistic goods markets), and Marx (the reserve-army and reserve-army-creation effects). The model has a system of differential equations for the rate of utilization, profit share, and rate of employment. We show that there exist limit cycles that depend on the sizes of the reserve-army effect and reserve-army-creation effect. This implies that there exists a situation in which the economy experiences endogenous and perpetual growth cycles. Moreover, we show that if the stable long-run equilibrium corresponds to the profit-led growth regime, an increase in the bargaining power of workers increases the rate of unemployment; conversely, if the equilibrium corresponds to the wage-led growth-regime, an increase in the bargaining power of workers decreases the rate of unemployment.

収録刊行物

• Journal of Economics

  Journal of Economics 108 (2), 145-171, 2013-03

  Springer Vienna

キーワード

• Goodwin–Kalecki–Marx model
• Cyclical growth
• Reserve-army-creation effects
• Hopf bifurcation

詳細情報

• CRID: 1050001335767138304
• NII論文ID: 120005243650
• NII書誌ID: AA10691719
• ISSN: 09318658
• HANDLE: 2433/172450
• 本文言語コード: en
• 資料種別: journal article
• データソース種別:
  • IRDB
  • CiNii Articles