Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/243505 
Autor:innen: 
Erscheinungsjahr: 
2021
Schriftenreihe/Nr.: 
LEM Working Paper Series No. 2021/09
Verlag: 
Scuola Superiore Sant'Anna, Laboratory of Economics and Management (LEM), Pisa
Zusammenfassung: 
The paper extends the research started with Borsato (2020). I develop an agent-based, stock-flow consistent growth model to analyze the interplay between income distribution, innovation and productivity growth. Results still show that the mounting shrinkage of the labour share impacts negatively upon firm's innovative effort. Additionally, I question the neoclassical belief on the negative interest-elasticity of investments, since decreases in the rate of interest are not associated with increases in capital accumulation. Finally, the panel cointegration analysis based on US manufacturing industries corroborates the theoretical predictions for the period 1958 - 2011.
Schlagwörter: 
Secular Stagnation
Innovation dynamics
Income distribution
Agent-based SFC models
US manufacturing industries
Panel cointegration analysis
JEL: 
E10
O31
O38
O43
P16
Dokumentart: 
Working Paper

Datei(en):
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