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.
- Language
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Englisch
- Bibliographic citation
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Series: Working Paper ; No. 173/2021
- Classification
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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
- Subject
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post-Keynesian macroeconomics
financialisation
growth regimes
institutions
inequality
debt
stock-flow consistent model
- Event
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Geistige Schöpfung
- (who)
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Prante, Franz
Hein, Eckhard
Bramucci, Alessandro
- Event
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Veröffentlichung
- (who)
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Hochschule für Wirtschaft und Recht Berlin, Institute for International Political Economy (IPE)
- (where)
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Berlin
- (when)
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2021
- Handle
- Last update
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10.03.2025, 11:44 AM CET
Data provider
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Prante, Franz
- Hein, Eckhard
- Bramucci, Alessandro
- Hochschule für Wirtschaft und Recht Berlin, Institute for International Political Economy (IPE)
Time of origin
- 2021
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