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La modération salariale. Le point de vue (néo-)kaleckien

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  • Olivier Allain

Abstract

Wage restraint policies are generally perceived as a good way to support growth and employment. This idea is criticized by recent versions of the (neo-)kaleckian model which are built on three core assumptions : price setting relies on a mark-up rule; the propensity to save out of profits exceeds the propensity to save out of wages; investment depends on the current rate of profit. We present and discuss this model in its canonical form. Then we take into account some important developments : endogenous rate of mark-up in a wage bargaining frame, technical progress and open economy. Classification JEL : E12, E24, E64

Suggested Citation

  • Olivier Allain, 2009. "La modération salariale. Le point de vue (néo-)kaleckien," Revue économique, Presses de Sciences-Po, vol. 60(1), pages 81-108.
    • Handle: RePEc:cai:recosp:reco_601_0081
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    Cited by:

    1. Marc Lavoie, 2010. "Surveying Short-run and Long-run Stability Issues with the Kaleckian Model of Growth," Chapters, in: Mark Setterfield (ed.), Handbook of Alternative Theories of Economic Growth, chapter 6, Edward Elgar Publishing.
    2. Olivier Allain & Nicolas Canry, 2008. "Growth, Capital Scrapping, and the Rate of Capacity Utilisation," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00355932, HAL.

    More about this item

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E64 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Incomes Policy; Price Policy

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