Skip navigation

Income distribution and aggregate demand: a global Post-Keynesian model

Income distribution and aggregate demand: a global Post-Keynesian model

Onaran, Özlem ORCID: 0000-0002-6345-9922 and Galanis, Giorgos (2013) Income distribution and aggregate demand: a global Post-Keynesian model. [Working Paper]

[img]
Preview
PDF
GPERC01_Onaran_GalanisF.pdf - Published Version
Available under License Creative Commons Attribution Non-commercial No Derivatives.

Download (955kB)

Abstract

This paper estimates the effects of a change in the wage share on growth at a national and global level in the G20 countries. A decrease in the wage share leads to lower growth in the euro area, Germany, France, Italy, UK, US, Japan, Turkey, and Korea, whereas it stimulates growth in Canada, Australia, Argentina, Mexico, China, India, and South Africa. However, a simultaneous decline in the wage share in all these countries leads to a decline in global growth. Furthermore, Canada, Argentina, Mexico, and India also contract when they decrease their wage-share along with their trading partners.

Item Type: Working Paper
Uncontrolled Keywords: wage share; growth; global multiplier; consumption; investment; exports; imports; G20; developed and developing countries;
Subjects: H Social Sciences > H Social Sciences (General)
Faculty / Department / Research Group: Faculty of Business > Greenwich Political Economy Research Centre (GPERC)
Related URLs:
Last Modified: 19 Nov 2015 14:37
Selected for GREAT 2016: None
Selected for GREAT 2017: None
Selected for GREAT 2018: None
URI: http://gala.gre.ac.uk/id/eprint/14052

Actions (login required)

View Item View Item

Downloads

Downloads per month over past year

View more statistics