A non-linear macrodynamics of capital accumulation, distribution and conflict inflation
Autor(a) principal: | |
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Data de Publicação: | 2002 |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Estudos Econômicos (São Paulo) |
Texto Completo: | https://www.revistas.usp.br/ee/article/view/117748 |
Resumo: | It is developed a post-keynesian model of capital accumulation, distribution and conflict inflation in which investment is non-linear in distribution: at low (high) levels of wage share, the effect of a higher profit share on investment is negative (positive). This specification seems to conform with the empirical evidence for the rise and fall of the Golden Age in most advanced economies. As it turns out, whether the economy follows a wage-led accumulation regime or a profit-led one depends on distribution. Given such non-linearity, it is developed a qualitative analysis of a possible configuration leading to multiple equilibria and endogenous, self-sustaining fluctuations. Hence, an innovative feature of the model is that it does not rely on full capacity utilization being reached for a change in the capital accumulation and growth regimes to take place. |
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Estudos Econômicos (São Paulo) |
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A non-linear macrodynamics of capital accumulation, distribution and conflict inflationA non-linear macrodynamics of capital accumulation, distribution and conflict inflationcapital accumulationdistributionconflict inflationacumulação de capitaldistribuiçãoinflação por conflitoIt is developed a post-keynesian model of capital accumulation, distribution and conflict inflation in which investment is non-linear in distribution: at low (high) levels of wage share, the effect of a higher profit share on investment is negative (positive). This specification seems to conform with the empirical evidence for the rise and fall of the Golden Age in most advanced economies. As it turns out, whether the economy follows a wage-led accumulation regime or a profit-led one depends on distribution. Given such non-linearity, it is developed a qualitative analysis of a possible configuration leading to multiple equilibria and endogenous, self-sustaining fluctuations. Hence, an innovative feature of the model is that it does not rely on full capacity utilization being reached for a change in the capital accumulation and growth regimes to take place.É elaborado um modelo pós-keynesiano de acumulação de capital, distribuição e inflação por conflito em que o investimento depende não-linearmente da distribuição: para níveis baixos (elevados) de parcela salarial, o efeito sobre o investimento de uma maior parcela de lucros é negativo (positivo). Esta especificação parece conformar-se com a evidência empírica para a ascensão e queda da Idade do Ouro na maioria das economias avançadas. Com isso, a economia estará em um regime de acumulação comandado pelos salários ou em um regime comandado pelos lucros dependendo da distribuição prevalecente. Dada essa não-linearidade, é delineada uma análise qualitativa de uma possível configuração marcada por equilíbrios múltiplos e flutuações endógenas e auto-sustentadas. Portanto, um aspecto inovador do modelo é que a mudança nos regimes de acumulação de capital e de crescimento não requer o alcance da plena utilização da capacidade.Universidade de São Paulo. Faculdade de Economia, Administração e Contabilidade2002-03-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://www.revistas.usp.br/ee/article/view/117748Estudos Econômicos (São Paulo); v. 32 n. 1 (2002); 35-701980-53570101-4161reponame:Estudos Econômicos (São Paulo)instname:Universidade de São Paulo (USP)instacron:USPporhttps://www.revistas.usp.br/ee/article/view/117748/115401Copyright (c) 2002 Gilberto Tadeu Limahttp://creativecommons.org/licenses/by-nc/4.0info:eu-repo/semantics/openAccessLima, Gilberto Tadeu2021-01-29T18:31:54Zoai:revistas.usp.br:article/117748Revistahttps://www.revistas.usp.br/eePUBhttps://www.revistas.usp.br/ee/oaiestudoseconomicos@usp.br||aldrighi@usp.br1980-53570101-4161opendoar:2021-01-29T18:31:54Estudos Econômicos (São Paulo) - Universidade de São Paulo (USP)false |
dc.title.none.fl_str_mv |
A non-linear macrodynamics of capital accumulation, distribution and conflict inflation A non-linear macrodynamics of capital accumulation, distribution and conflict inflation |
title |
A non-linear macrodynamics of capital accumulation, distribution and conflict inflation |
spellingShingle |
A non-linear macrodynamics of capital accumulation, distribution and conflict inflation Lima, Gilberto Tadeu capital accumulation distribution conflict inflation acumulação de capital distribuição inflação por conflito |
title_short |
A non-linear macrodynamics of capital accumulation, distribution and conflict inflation |
title_full |
A non-linear macrodynamics of capital accumulation, distribution and conflict inflation |
title_fullStr |
A non-linear macrodynamics of capital accumulation, distribution and conflict inflation |
title_full_unstemmed |
A non-linear macrodynamics of capital accumulation, distribution and conflict inflation |
title_sort |
A non-linear macrodynamics of capital accumulation, distribution and conflict inflation |
author |
Lima, Gilberto Tadeu |
author_facet |
Lima, Gilberto Tadeu |
author_role |
author |
dc.contributor.author.fl_str_mv |
Lima, Gilberto Tadeu |
dc.subject.por.fl_str_mv |
capital accumulation distribution conflict inflation acumulação de capital distribuição inflação por conflito |
topic |
capital accumulation distribution conflict inflation acumulação de capital distribuição inflação por conflito |
description |
It is developed a post-keynesian model of capital accumulation, distribution and conflict inflation in which investment is non-linear in distribution: at low (high) levels of wage share, the effect of a higher profit share on investment is negative (positive). This specification seems to conform with the empirical evidence for the rise and fall of the Golden Age in most advanced economies. As it turns out, whether the economy follows a wage-led accumulation regime or a profit-led one depends on distribution. Given such non-linearity, it is developed a qualitative analysis of a possible configuration leading to multiple equilibria and endogenous, self-sustaining fluctuations. Hence, an innovative feature of the model is that it does not rely on full capacity utilization being reached for a change in the capital accumulation and growth regimes to take place. |
publishDate |
2002 |
dc.date.none.fl_str_mv |
2002-03-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://www.revistas.usp.br/ee/article/view/117748 |
url |
https://www.revistas.usp.br/ee/article/view/117748 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://www.revistas.usp.br/ee/article/view/117748/115401 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2002 Gilberto Tadeu Lima http://creativecommons.org/licenses/by-nc/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2002 Gilberto Tadeu Lima http://creativecommons.org/licenses/by-nc/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Universidade de São Paulo. Faculdade de Economia, Administração e Contabilidade |
publisher.none.fl_str_mv |
Universidade de São Paulo. Faculdade de Economia, Administração e Contabilidade |
dc.source.none.fl_str_mv |
Estudos Econômicos (São Paulo); v. 32 n. 1 (2002); 35-70 1980-5357 0101-4161 reponame:Estudos Econômicos (São Paulo) instname:Universidade de São Paulo (USP) instacron:USP |
instname_str |
Universidade de São Paulo (USP) |
instacron_str |
USP |
institution |
USP |
reponame_str |
Estudos Econômicos (São Paulo) |
collection |
Estudos Econômicos (São Paulo) |
repository.name.fl_str_mv |
Estudos Econômicos (São Paulo) - Universidade de São Paulo (USP) |
repository.mail.fl_str_mv |
estudoseconomicos@usp.br||aldrighi@usp.br |
_version_ |
1787713830403440640 |