Endogenous income distribution in the Bhaduri-Marglin model

Artikel

The results of the Bhaduri-Marglin model build on the assumption of an exogenous profit share. The present paper examines critically the robustness of these results by asking how its results change if we take the endogeneity of the profit share into account. In doing so, the constituents of the latter (labor productivity and the real wage rate) are treated as endogenous. The paper finds that the conditions for wage- and profit-led regimes only change when we assume increases in the real wage rate to be followed by very strong labor rationalization. Furthermore, the paper shows how these additional channels can increase or decrease the profit-led/wage-led character of a regime and how they may even become a source of instability.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Intervention. European Journal of Economics and Economic Policies ; ISSN: 2195-3376 ; Volume: 09 ; Year: 2012 ; Issue: 2 ; Pages: 309-320

Klassifikation und Themen

• Klassifikation: Wirtschaft ; General Aggregative Models: Keynes; Keynesian; Post-Keynesian ; Macroeconomics: Consumption; Saving; Wealth ; Investment; Capital; Intangible Capital; Capacity ; Aggregate Factor Income Distribution
• Thema: Income distribution ; wage-led/profit-led demand regimes ; labor ra-tionalization

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Schütz, Bernhard
• Ereignis: Veröffentlichung
• (wer): Metropolis-Verlag
• (wo): Marburg
• (wann): 2012

Weitere Informationen

• DOI: doi:10.4337/ejeep.2012.02.10
• Handle: http://hdl.handle.net/10419/277249
• Letzte Aktualisierung: 20.09.2024, 08:25 MESZ