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]
|
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 / School / Research Centre / Research Group: | Faculty of Business Faculty of Business > Department of International Business & Economics Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA) Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA) > Greenwich Political Economy Research Centre (GPERC) |
Related URLs: | |
Last Modified: | 04 Aug 2021 16:32 |
URI: | http://gala.gre.ac.uk/id/eprint/14052 |
Actions (login required)
View Item |
Downloads
Downloads per month over past year