Arbeitspapier
Autonomous government expenditure growth, deficits, debt and distribution in a neo-Kaleckian growth model
This paper is linked to some recent attempts at including a non-capacity creating autonomous expenditure category as the driver and determinant of growth into Kaleckian distribution and growth models. Whereas previous contributions have focussed on taming Harrodian instability, generated by the deviation of the goods market equilibrium rate of capacity utilisation from a normal or target rate of utilisation, we rather focus on the so far neglected issues of deficit, debt and distribution dynamics in such models. For this purpose we treat the growth of government expenditures on goods and services, financed by credit creation, as the exogenous growth rate driving the system. We examine the medium-run convergence of the system towards such a growth rate, analyse the related long-run debt dynamics and deal with stability and income distribution issues. Finally we touch upon the economic and, in particular, fiscal policy implications of our model results.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 68/2016
- Klassifikation
-
Wirtschaft
General Aggregative Models: Marxian; Sraffian; Kaleckian
General Aggregative Models: Keynes; Keynesian; Post-Keynesian
Aggregate Factor Income Distribution
Fiscal Policy
- Thema
-
government deficits and debt
public expenditure growth
Kaleckian distribution and growth model
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Hein, Eckhard
- Ereignis
-
Veröffentlichung
- (wer)
-
Hochschule für Wirtschaft und Recht Berlin, Institute for International Political Economy (IPE)
- (wo)
-
Berlin
- (wann)
-
2016
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Hein, Eckhard
- Hochschule für Wirtschaft und Recht Berlin, Institute for International Political Economy (IPE)
Entstanden
- 2016
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