Goodwin cycles and the BoPC growth paradigm: A macrodynamic model of growth and fluctuations

Artikel

The paper builds a non-linear macrodynamic model to study the relation between the functional distribution of income, technological progress and economic growth. In the short-term, the interaction between the productivity regime, the demand regime and the distributive conflict generates cyclical paths a la Goodwin. In the long-term, output growth rate is constrained by the balance of payments a la Thirlwall, in which the elasticities of foreign trade are modeled as a function of the complex relation between the wage-share and the innovation capabilities of theeconomy.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: EconomiA ; ISSN: 1517-7580 ; Volume: 17 ; Year: 2016 ; Issue: 3 ; Pages: 324-339 ; Amsterdam: Elsevier

Classification and Topics

• Classification: Wirtschaft ; General Aggregative Models: Keynes; Keynesian; Post-Keynesian ; Business Fluctuations; Cycles ; Macroeconomic Analyses of Economic Development
• Subject: Cyclical growth ; Goodwin cycles ; Distributive cycles ; Thirlwall's law ; Balance of payments constraint

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Dávila-Fernández, Marwil J. ; Libânio, Gilberto A.
• Event: Veröffentlichung
• (who): Elsevier
• (where): Amsterdam
• (when): 2016

Further information

• DOI: doi:10.1016/j.econ.2016.09.004
• Handle: http://hdl.handle.net/10419/179630
• Last update: 10.03.2025, 11:44 AM CET