Nishi, Hiroshi (2018): Balanceofpaymentsconstrained Cyclical Growth with Distributive Class Conflicts and Productivity Dynamics.

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Abstract
This study builds a dynamic balanceofpaymentsconstrained (BOPC) model that incorporates the endogenous determination of the economic growth rate, conflictive wage/price distribution, and employment rate. Following the KaleckianMarxian literature, wages and commodity prices are determined by the reserve army effect and employment is determined by the reserve army creation effect. The relative strength of these two effects generates different outcomes for the transitional dynamics and comparative statics analysis. In particular, the model shows stability, instability, and a cyclical nature, the latter of concurs with the evidence reported by previous empirical studies.
Item Type:  MPRA Paper 

Original Title:  Balanceofpaymentsconstrained Cyclical Growth with Distributive Class Conflicts and Productivity Dynamics 
English Title:  Balanceofpaymentsconstrained Cyclical Growth with Distributive Class Conflicts and Productivity Dynamics 
Language:  English 
Keywords:  Balanceofpaymentsconstrained model, Conflictive income distribution, Cyclical growth 
Subjects:  E  Macroeconomics and Monetary Economics > E1  General Aggregative Models > E12  Keynes ; Keynesian ; PostKeynesian E  Macroeconomics and Monetary Economics > E2  Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy > E24  Employment ; Unemployment ; Wages ; Intergenerational Income Distribution ; Aggregate Human Capital ; Aggregate Labor Productivity E  Macroeconomics and Monetary Economics > E3  Prices, Business Fluctuations, and Cycles > E32  Business Fluctuations ; Cycles F  International Economics > F4  Macroeconomic Aspects of International Trade and Finance > F43  Economic Growth of Open Economies 
Item ID:  86780 
Depositing User:  Dr. Hiroshi Nishi 
Date Deposited:  21 May 2018 10:49 
Last Modified:  21 May 2018 10:50 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/86780 