Munich Personal RePEc Archive

A Macroeconomic Condition of Class Society

Nakajima, Tetsuya (2018): A Macroeconomic Condition of Class Society.

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Abstract

This paper clarifies a macroeconomic condition, under which households are divided between a working class and an asset-owner class. Constructing a Keynesian model, we find that if aggregate savings from profits exceed aggregate investment, workers cannot accumulate their assets, and consequently a class society is established.

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