Wage policy in an open economy kalecki-kaldor model: a simulation study

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Publication Type Manuscript
School or College College of Social & Behavioral Science
Department Economics
Creator Von Arnim, Rudiger Lennart
Title Wage policy in an open economy kalecki-kaldor model: a simulation study
Date 2010
Description This paper discusses a Post?Keynesian model of income, production, and trade. The one?country, one?sector model features Kaleckian investment demand, Kaldorian productivity and a labor market module based on a wage?price spiral. The model is first presented for a closed economy with exogenous real wages; second, for a closed economy with endogenous real wages;third, for an economy open to trade with endogenous real wages. Simulations with different calibrations show key characteristics of the model. Monte Carlo simulations over reasonable parameter ranges shed some light on the effectiveness of wage policies in open economies.
Type Text
Publisher Wiley-Blackwell
Language eng
Bibliographic Citation Von Arnim, R. L. (2011), Wage policy in an open economy kalecki-kaldor model: a simulation study. Metroeconomica, 62(2), 235-64.
Rights Management © Wiley-Blackwell The definitive version is available at www3.interscience.wiley.com
Format Medium application/pdf
Format Extent 1,673,264 bytes
Identifier ir-main,16837
ARK ark:/87278/s60v8xdq
Setname ir_uspace
Date Created 2012-06-13
Date Modified 2021-05-06
ID 707070
Reference URL https://collections.lib.utah.edu/ark:/87278/s60v8xdq
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