The finance-dominated growth regime, distribution, and aggregate demand in the US
Ozlem Onaran,
Engelbert Stockhammer and
Lucas Grafl ()
No 126, Department of Economics Working Paper Series from WU Vienna University of Economics and Business
Abstract:
The finance-dominated growth regime has affected key macroeconomic variables in several contradictory ways. This paper investigates some of these effects: an increase of rentiers income, housing wealth and net financial wealth on private consumption expenditures and the effects of changes in payments to the rentier by the business on private investment expenditures. A Post-Kaleckian macro model is used as a starting point for this investigation. The paper thus contributes to two debates. First, it aims at clarifying some important macroeconomic effects of financialization. Second, it extends the analysis of distribution-led demand regimes by controlling for financialization variables.
Keywords: distribution; demand; investment; consumption; foreign trade; financialization; finance-dominated growth regime; wage-led; profit-led; macroeconomics; Keynesian economics (search for similar items in EconPapers)
Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)
Downloads: (external link)
https://epub.wu.ac.at/1306/ original version (application/pdf)
Related works:
Working Paper: The finance-dominated growth regime, distribution, and aggregate demand in the US (2009)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:wiw:wus005:1306
Access Statistics for this paper
More papers in Department of Economics Working Paper Series from WU Vienna University of Economics and Business Welthandelsplatz 1, 1020 Vienna, Austria.
Bibliographic data for series maintained by WU Library ().