Arbeitspapier
Varieties and interdependencies of demand and growth regimes in finance-dominated capitalism
We outline and simulate a stylised post-Keynesian two country stock-flow consistent model to demonstrate the interconnection of three of the main features/outcomes of finance-dominated capitalism, namely worsening income distribution for the bottom 90% households, the rise of international imbalances and the build-up of financial fragility. In the model, twobasic regimesemerge, depending on the institutional setting of the respective model economy:the debt-led private demand boom regime (DLPD) and the export-led mercantilist regime(ELM). We demonstrate the complementarity and interdependence of these two regimesand show how this constellation transformed after the crisis into the domestic demand-led regime (DDL) stabilised by government deficits, on the one hand, andELMregimes, on the other, depending ontherequired deleveraging of private household debt, distributional developments and fiscal policy.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 173/2021
- Klassifikation
-
Wirtschaft
Current Heterodox Approaches: Other
Institutions and the Macroeconomy
General Aggregative Models: Marxian; Sraffian; Kaleckian
General Aggregative Models: Keynes; Keynesian; Post-Keynesian
Aggregate Factor Income Distribution
Studies of Particular Policy Episodes
Open Economy Macroeconomics
One, Two, and Multisector Growth Models
- Thema
-
post-Keynesian macroeconomics
financialisation
growth regimes
institutions
inequality
debt
stock-flow consistent model
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Prante, Franz
Hein, Eckhard
Bramucci, Alessandro
- Ereignis
-
Veröffentlichung
- (wer)
-
Hochschule für Wirtschaft und Recht Berlin, Institute for International Political Economy (IPE)
- (wo)
-
Berlin
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Prante, Franz
- Hein, Eckhard
- Bramucci, Alessandro
- Hochschule für Wirtschaft und Recht Berlin, Institute for International Political Economy (IPE)
Entstanden
- 2021
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