Eckhard Hein

TL;DR: In this article, the authors analyse the relationship between functional income distribution and economic growth in Austria, France, Germany, the Netherlands, the UK and the USA from 1960 until 2005, based on a demand-driven distribution and growth model for an open economy inspired by Bhaduri and Marglin.

TL;DR: The European Financial and Economic Crisis: Alternative Solutions from a Post-Keynesian Perspective as mentioned in this paper, which is a post-Keynomics perspective on the European financial and economic crisis.

TL;DR: In this article, the effects of financialisation on functional income distribution are studied in more detail, and by means of reviewing empirical and econometric literature it is found that financialisation and neoliberalism have contributed to the falling labour income share since the early 1980s through three main Kaleckian channels: 1) a shift in the sectoral composition of the economy, 2) an increase in management salaries and rising profit claims of the rentiers and thus in overheads, and 3) weakened trade union bargaining power.

TL;DR: In this paper, the authors tackle the issue of the possible instability of the Kaleckian distribution and growth model and conclude that it may be premature to dismiss the endogeneity of the rate of capacity utilisation in long run growth equilibrium.

TL;DR: In this article, the authors extend this type of analysis and integrate the effects on productivity growth, theoretically and empirically, into the theoretical model making use of the Verdoorn effect or of Kaldor's technical progress function and hence of a positive relationship between GDP or capital stock growth and productivity growth.