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dc.contributor.authorHein, Eckharden_US
dc.date.accessioned2009-01-28T16:24:06Z-
dc.date.available2009-01-28T16:24:06Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/21574-
dc.description.abstractThe introduction of monetary variables into post-Keynesian models of distribution and growth is an ongoing process. Lavoie (1995) has proposed a Kaleckian ?Minsky-Steindl-model? of distribution and growth, incorporating the effects debt and debt services have on short and long run capital accumulation. This attempt, however, can be extended because neither has the rate of capacity utilisation been endogenously determined, nor have the potential effects of interest rate variations on distribution between wages and gross profits explicitly been incorporated in the model. In the present paper we therefore augment Lavoie?s ?Minsky-Steindl-model?, building our analysis on a Kaleckian distribution and growth model which has already taken into account distribution effects of interest rate variations on the short run equilibrium. Into this model the effects of debt and debt services are explicitly introduced, the effects of interest rate variations on the short and the long run equilibrium are derived, and the results are compared to those of Lavoie?s ?Minsky-Steindl-model?. It is shown, that the effects of interest variations on the endogenously determined equilibrium values of the model do not only depend on the parameter values in the savings and investment functions but also on initial conditions with respect to the interest rate and the debt-capital-ratio.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesWSI-Diskussionspapiere 133en_US
dc.subject.jelE44en_US
dc.subject.jelE25en_US
dc.subject.jelE12en_US
dc.subject.jelE22en_US
dc.subject.jelO42en_US
dc.subject.ddc330en_US
dc.subject.keywordInterest rateen_US
dc.subject.keyworddebten_US
dc.subject.keyworddistributionen_US
dc.subject.keywordcapital accumulationen_US
dc.subject.stwArbeitsbedingungenen_US
dc.subject.stwSozialer Indikatoren_US
dc.subject.stwVergleichen_US
dc.subject.stwEU-Staatenen_US
dc.titleInterest rate, debt, distribution and capital accumulation in a post-Kaleckian modelen_US
dc.typeWorking Paperen_US
dc.identifier.ppn47794633Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:wsidps:133-
Appears in Collections:WSI-Diskussionspapiere, Wirtschafts- und Sozialwissenschaftliches Institut, Hans-Böckler-Stiftung

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