Aggregate Demand, Aggregate Supply and Economic Growth

By A. Dutt. 2006

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Demand-led growth and accommodating supply (2020, unknown): “23 Dutt (2006) presents a model that reconciles demand-led growth with labor supply growth, allowing for endogenous technical change. The key adjustment mechanisms are similar to those in the neoclassical synthesis, but in the Kaleckian growth model these structures produce a continuum of possible g”
Distribution, aggregate demand and productivity growth: theory and empirical results for six OECD countries based on a post-Kaleckian model (2010, background): “Dutt (2006) has recently argued that increasing pressure from lower unemployment and rising real wages will accelerate the diffusion of innovations and will thus increase productivity growth.”
Distribution and growth reconsidered: empirical results for six OECD countries (2007, background): “…equation for domestic goods: p¼ð1þmÞ w y þpfem ; m>0: ð1Þ Since the relationship between unit material costs and unit labour costs (z) is given by: z¼ pfemw y ; ð2Þ 1 See Kaldor (1957), León-Ledesma and Thirlwall (2002), Dutt (2003, 2006), Bhaduri (2006B, 2006C), Naastepad (2006) and Vogel (2007).”