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Taxation and Kalecki's Theory of the Business Cycle

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  • Laramie, Anthony J
  • Mair, Douglas

Abstract

Michal Kalecki's theories of tax incidence and the business cycle are integrated to demonstrate how the amplitude of the business cycle is affected by the taxation of wages and profits. The impact of taxation depends on the stage of the cycle, the economy's long-run position, the direction of tax policy, and the process and degree of tax shifting. With no tax shifting, a wage tax dampens the cycle and a profits tax amplifies it. With tax shifting, the effects of both taxes become indeterminate. (c) 1996 Academic Press Limited Copyright 1996 by Oxford University Press.

Suggested Citation

  • Laramie, Anthony J & Mair, Douglas, 1996. "Taxation and Kalecki's Theory of the Business Cycle," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 20(4), pages 451-464, July.
    • Handle: RePEc:oup:cambje:v:20:y:1996:i:4:p:451-64
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    Cited by:

    1. Gilberto Tadeu Lima & Laura Carvalho, Gustavo Pereira Serra, 2018. "Human Capital Accumulation, Income Distribution and Economic Growth: A Neo-Kaleckian Analytical Framework," Working Papers, Department of Economics 2018_19, University of São Paulo (FEA-USP).
    2. Greg Hannsgen, 2014. "Fiscal Policy, Chartal Money, Mark-up Dynamics and Unemployment Insurance in a Model of Growth and Distribution," Metroeconomica, Wiley Blackwell, vol. 65(3), pages 487-523, July.
    3. Barbieri Góes, Maria Cristina, 2019. "Personal income distribution and progressive taxation in a neo-Kaleckian model: Insights from the Italian case," IPE Working Papers 126/2019, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    4. Leonardo Barros Torres & Gilberto Tadeu Lima & Jaylson Jair da Silveira, 2024. "Endogenous Tax Compliance and Macroeconomic Performance Driven by Satisficing Evolutionary Dynamics," Working Papers, Department of Economics 2024_10, University of São Paulo (FEA-USP).

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