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dc.contributor.authorHein, Eckharden
dc.date.accessioned2012-06-22-
dc.date.accessioned2012-06-22T11:33:34Z-
dc.date.available2012-06-22T11:33:34Z-
dc.date.issued2011-
dc.identifier.urihttp://hdl.handle.net/10419/59302-
dc.description.abstractIn a Kaleckian distribution and growth model with workers' debt we examine the short- and long-run effects of three stylized facts of 'finance-dominated capitalism': a fall in animal spirits of the firm sector with respect to real investment in capital stock, re-distribution of income at the expense of the wage share, and increasing lending of rentiers to workers for consumption purposes. In particular, we specify the conditions for long-run stability of the workers' debt-capital ratio. We thus identify the threshold for this ratio to turn unstable causing increasing financial fragility and finally financial crisis due to systemic stock-flow or stock-stock dynamics.en
dc.language.isoengen
dc.publisher|aHochschule für Wirtschaft und Recht Berlin, Institute for International Political Economy (IPE) |cBerlinen
dc.relation.ispartofseries|aWorking Paper |x11/2011en
dc.subject.jelE12en
dc.subject.jelE21en
dc.subject.jelE22en
dc.subject.jelE25en
dc.subject.jelO41en
dc.subject.ddc330en
dc.subject.keywordFinance-dominated capitalismen
dc.subject.keyworddistributionen
dc.subject.keywordhousehold debten
dc.subject.keywordfinancial fragilityen
dc.subject.keywordgrowthen
dc.subject.keywordKaleckian modelen
dc.titleFinance-dominated capitalism, re-distribution, household debt and financial fragility in a Kaleckian distribution and growth model-
dc.typeWorking Paperen
dc.identifier.ppn718106059en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:ipewps:112011en

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