Wealth inequality and aggregate demand
نویسندگان
چکیده
The paper investigates how including the distribution of wealth changes demand effects redistributing functional income. It develops a model with an endogenous and shows that rise in inequality resulting from redistribution towards profits weakens growth this redistribution. Consequently, wage-led regime becomes more strongly wage-led. A profit-led on other hand less there may even be switch - case short-run economy long run due to inequality. thereby provides possible explanation for instability regimes over time.
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ژورنال
عنوان ژورنال: Metroeconomica
سال: 2021
ISSN: ['1467-999X', '0026-1386']
DOI: https://doi.org/10.1111/meca.12326