Abstract
The paper studies endogenous employment and distribution dynamics in a Post-Keynesian growth model of the Kalecki–Steindl tradition. Productivity adjustments stabilise employment and the labour share in the long run: technological change allows firms to replenish the reserve army of workers in a struggle over income shares and thereby keeps wage demands in check. Labour market dynamics follow from separate wage and price curves. The authors discuss stability conditions and the equilibrium dynamics and investigate how legal working time and its reduction affect this equilibrium.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
