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The lexicon of short-run static analysis

In: Income Distribution, Growth and Unemployment

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Abstract

This Chapter reconsiders Bhaduri and Marglin (1990)'s contribution that have introduced the basic lexicon into the income distribution debate (IDD). The analysis suffers from two limitations. It is mainly static and refers to the short-run. In spite of these limitations, it underlines the necessity of considering the dual nature of wages, at the same time elements of costs and determinants of demand, where the determinants of consumption and investment are deeply differentiated. This duality extends also to a dynamic medium-run picture, where the original dichotomy "stagnationist" versus exhilarationist" has been replaced in time by that more appealing separating wage-led models (WLM) from profit led ones (PLM).

Suggested Citation

  • ., 2022. "The lexicon of short-run static analysis," Chapters, in: Income Distribution, Growth and Unemployment, chapter 1, pages 16-24, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21213_1
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    Cited by:

    1. Malmquist, Louise & Barron, Jennie, 2023. "Improving spatial resolution in soil and drainage data to combine natural and anthropogenic water functions at catchment scale in agricultural landscapes," Agricultural Water Management, Elsevier, vol. 283(C).

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