Interest Rate, Debt, Distribution And Capital Accumulation In A Post-Kaleckian Model

By Eckhard Hein. 2007

149 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Sociology and Political Science

View Paper: https://www.semanticscholar.org/paper/ed2545b33f5194d7e0c5afd1f83df8a02ed2b06d

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Citations in the corpus

Interest rates, distribution and capital accumulation – A post-Kaleckian perspective on the US and Germany (2011, methodology): “Different potential accumulation regimes may arise, as has been made clear by Lavoie (1995) and Hein (2007): in the ‘normal regime’, an increase in the rate of interest has negative effects on the rates of capacity utilisation, accumulation and profit.”
Financialisation, income distribution and aggregate demand in the USA (2011, background): “…effect on the investable funds.8 The negative effect of higher dividend or interest payments on investment is also incorporated in the theoretical post-Keynesian models by Hein (2006, 2007, 2008A, 2008B), Lavoie (1995, 2008), Lavoie and Godley (2001–2), van Treeck (2009) and Skott and Ryoo (2008).”
Finance-dominated capitalism and re-distribution of income: a Kaleckian perspective. (2015, unknown): “20 growth (Lavoie 1993; Hein 2006, 2007, 2008, pp. 102–123).15 A permanent increase in interest rates (or interest payments) would thus induce firms on average to increase the mark-up in order to survive.”
A synthetic, stock--flow consistent macroeconomic model of 'financialisation' (2009, unknown): “Note also that econometric estimation for the US by van Treeck (2007) suggests that net dividend payments have had a stronger negative effect on accumulation than net interest payments in recent decades.”
‘Financialisation’ in Post-Keynesian Models of Distribution and Growth: A Systematic Review (2008, background): “Lavoie (1995) and Hein (2006, 2007, 2008c), referring to Steindl’s (1952) ‘paradox of debt’, also stress that increasing interest or dividend obligations for firms may even be associated with exploding debt ratios, despite (or because of) their contractive effects on capacity utilisation and…”