Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/203927 
Authors: 
Year of Publication: 
2010
Series/Report no.: 
wiiw Working Paper No. 62
Publisher: 
The Vienna Institute for International Economic Studies (wiiw), Vienna
Abstract: 
This paper presents a number of extensions to the theory of profit- and wage-led growth by integrating selected aspects of asset markets and housing markets. Theoretical results from comparative statics are then presented and discussed, notably with reference to recent housing market bubbles. The exposition incorporates distributional aspects relating to different classes of economic agents and how those differences relate to wage income versus profit income.
Subjects: 
profit-led growth
wage-led growth
asset market
housing market
stability
forced saving
profit squeeze
distribution and growth theories
effective demand
JEL: 
G12
E21
E25
E22
Document Type: 
Working Paper

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