A non-linear macrodynamics of capital accumulation, distribution and conflict inflation

It is developed a post-keynesian model of capital accumulation, distribution and conflict inflation in which investment is non-linear in distribution: at low (high) levels of wage share, the effect of a higher profit share on investment is negative (positive). This specification seems to conform wi...

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Autor principal:	Gilberto Tadeu Lima
Formato:	article
Lenguaje:	EN PT
Publicado:	Universidade de São Paulo 2002
Materias:	capital accumulation distribution conflict inflation Economics as a science HB71-74
Acceso en línea:	https://doaj.org/article/ffe9a09673a1428381796fbc67601ec6
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spelling	oai:doaj.org-article:ffe9a09673a1428381796fbc67601ec62021-11-24T16:07:34ZA non-linear macrodynamics of capital accumulation, distribution and conflict inflation0101-41611980-5357https://doaj.org/article/ffe9a09673a1428381796fbc67601ec62002-03-01T00:00:00Zhttps://www.revistas.usp.br/ee/article/view/117748https://doaj.org/toc/0101-4161https://doaj.org/toc/1980-5357 It is developed a post-keynesian model of capital accumulation, distribution and conflict inflation in which investment is non-linear in distribution: at low (high) levels of wage share, the effect of a higher profit share on investment is negative (positive). This specification seems to conform with the empirical evidence for the rise and fall of the Golden Age in most advanced economies. As it turns out, whether the economy follows a wage-led accumulation regime or a profit-led one depends on distribution. Given such non-linearity, it is developed a qualitative analysis of a possible configuration leading to multiple equilibria and endogenous, self-sustaining fluctuations. Hence, an innovative feature of the model is that it does not rely on full capacity utilization being reached for a change in the capital accumulation and growth regimes to take place. Gilberto Tadeu LimaUniversidade de São Pauloarticlecapital accumulationdistributionconflict inflationEconomics as a scienceHB71-74ENPTEstudos Econômicos, Vol 32, Iss 1 (2002)
institution	DOAJ
collection	DOAJ
language	EN PT
topic	capital accumulation distribution conflict inflation Economics as a science HB71-74
spellingShingle	capital accumulation distribution conflict inflation Economics as a science HB71-74 Gilberto Tadeu Lima A non-linear macrodynamics of capital accumulation, distribution and conflict inflation
description	It is developed a post-keynesian model of capital accumulation, distribution and conflict inflation in which investment is non-linear in distribution: at low (high) levels of wage share, the effect of a higher profit share on investment is negative (positive). This specification seems to conform with the empirical evidence for the rise and fall of the Golden Age in most advanced economies. As it turns out, whether the economy follows a wage-led accumulation regime or a profit-led one depends on distribution. Given such non-linearity, it is developed a qualitative analysis of a possible configuration leading to multiple equilibria and endogenous, self-sustaining fluctuations. Hence, an innovative feature of the model is that it does not rely on full capacity utilization being reached for a change in the capital accumulation and growth regimes to take place.
format	article
author	Gilberto Tadeu Lima
author_facet	Gilberto Tadeu Lima
author_sort	Gilberto Tadeu Lima
title	A non-linear macrodynamics of capital accumulation, distribution and conflict inflation
title_short	A non-linear macrodynamics of capital accumulation, distribution and conflict inflation
title_full	A non-linear macrodynamics of capital accumulation, distribution and conflict inflation
title_fullStr	A non-linear macrodynamics of capital accumulation, distribution and conflict inflation
title_full_unstemmed	A non-linear macrodynamics of capital accumulation, distribution and conflict inflation
title_sort	non-linear macrodynamics of capital accumulation, distribution and conflict inflation
publisher	Universidade de São Paulo
publishDate	2002
url	https://doaj.org/article/ffe9a09673a1428381796fbc67601ec6
work_keys_str_mv	AT gilbertotadeulima anonlinearmacrodynamicsofcapitalaccumulationdistributionandconflictinflation AT gilbertotadeulima nonlinearmacrodynamicsofcapitalaccumulationdistributionandconflictinflation
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A non-linear macrodynamics of capital accumulation, distribution and conflict inflation

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