Effects of Shifts of Aggregate Demand upon Income Distribution

1968 ◽  
Vol 50 (2) ◽  
pp. 328-339 ◽  
Author(s):  
Hyman P. Minsky
Keyword(s):  
Income Distribution ◽  
Aggregate Demand

scholarly journals An assessment of the debates over income distribution and growth in the Neo-Kaleckian literature

2021 ◽  
Vol 41 (4) ◽  
pp. 782-796
Author(s):  
SULAFA NOFAL
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Income Distribution ◽  
Aggregate Demand ◽  
Economic Thought ◽  
Theoretical Discussion ◽  
Distributional Effects ◽  
Economic Issues ◽  
The Impact ◽  
Distribution Of Income

ABSTRACT Kaleckian literature is considered an important theme in the post-Keynesian school of economic thought. In the aftermath of the financial crisis, the endeavors of forming a new consensus regarding essential economic issues, in particular achieving economic growth became a need. Thus, the Kaleckian models returned to be in the spot since these models tackle the impact of changes in the distribution of income and address the question whether a redistribution of income away from wages and towards profits is capable of boosting growth. In this sense, this paper return to Kaleckian insights and offers a theoretical discussion of the distributional effects on aggregate demand and economic growth. Moreover, through the lens of neo-Kaleckian tradition, the evolution of the debate on wage-led and profit-led regimes in recent decades can be traced.

scholarly journals The income elasticity of lottery revisited: a worldwide perspective

2021 ◽  
Vol 10 (4) ◽  
pp. 403-407
Author(s):  
Levi Pérez ◽  
Álvaro Muñiz
Keyword(s):  
Panel Data ◽  
Income Distribution ◽  
Quantile Regression ◽  
Significant Variation ◽  
Income Elasticity ◽  
Aggregate Demand ◽  
Demand Functions ◽  
Income Elasticities ◽  
World Regions ◽  
Regression Approach

Using panel data information from The WLA Global Lottery Data Compendium this paper estimates aggregate demand functions for lottery tickets in order to examine variation in the income elasticity of lottery tickets worldwide. The analysis uses a panel data quantile regression approach. The estimated elasticities are compared across income quartiles and world regions. The results provide evidence that a significant variation in the income elasticities across both geographic areas and the income distribution exists. Also, a clear heterogeneity in the incidence of lottery expenditures is observed. Overall, it is found that lottery is a normal good.

Functional income distribution and aggregate demand in the Euro area

2008 ◽  
Vol 33 (1) ◽  
pp. 139-159 ◽  
Author(s):  
E. Stockhammer ◽  
O. Onaran ◽  
S. Ederer
Keyword(s):  
Income Distribution ◽  
Euro Area ◽  
Aggregate Demand

scholarly journals FLEXIBILITY OF WAGES AND MACROECONOMIC INSTABILITY IN AN AGENT-BASED COMPUTATIONAL MODEL WITH ENDOGENOUS MONEY

2012 ◽  
Vol 16 (S2) ◽  
pp. 284-297 ◽  
Author(s):  
Pascal Seppecher
Keyword(s):  
Income Distribution ◽  
Computational Model ◽  
Minimum Wage ◽  
Heterogeneous Agents ◽  
Aggregate Demand ◽  
Baseline Scenario ◽  
Agent Based ◽  
Systemic Crisis ◽  
Endogenous Money ◽  
The Creation

We present a model of a dynamic and complex economy in which the creation and the destruction of money result from interactions between multiple and heterogeneous agents. In the baseline scenario, we observe the stabilization of the income distribution between wages and profits. We then alter the model by increasing the flexibility of wages. This change leads to the formation of a deflationary spiral. Aggregate activity decreases and unemployment increases. The macroeconomic stability of the model is affected and eventually a systemic crisis arises. Finally, we show that the introduction of a minimum wage would have made it possible to boost the aggregate demand and to avoid this crisis.

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