Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/102707
Authors: 
Hein, Eckhard
Detzer, Daniel
Year of Publication: 
2014
Series/Report no.: 
Working Paper, Institute for International Political Economy Berlin 42/2014
Abstract: 
We present an investigation into the long-run effects of financialisation on income distribution before the financial and economic crises for Germany, one of the major mercantilist export-led economies. The analysis builds on a Kaleckian approach towards the examination of the effects of financialisation on income distribution, as suggested by Hein (2014a). First, we show that Germany saw considerable re-distribution of income starting in early 1980s, which accelerated in the early 2000s, in particular. Examining the three main channels through which financialisation (and neo-liberalism) are supposed to have affected the wage or the labour income share, according to the Kaleckian approach, we provide evidence for the existence of each of these channels in Germany since the mid-1990s, when several institutional changes provided the conditions for an increasing dominance of finance.
Subjects: 
Finance-dominated capitalism
distribution of income
Kaleckian distribution theory
Germany
JEL: 
D31
D33
D43
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.