Dynamic investment and financial development, application of Kaleckian, Post-Keynesian model
Chaiechi, Taha, Juniper, James, and Mitchell, Bill (2006) Dynamic investment and financial development, application of Kaleckian, Post-Keynesian model. In: The Constraints to Full Employment Conference (2006) Papers, pp. 69-82. From: The Constraints to Full Employment Conference, 7-8 December 2006, Newcastle, NSW.
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Investment analysis at the macroeconomic level has been very extensive, ever since Keynes (1936) placed the investment function at centre stage when analysing why a market capitalist economy does not necessarily achieve full employment equilibrium. Keynesians posit that goods market demand determines labor market outcomes. Thus the idea of a hierarchy of markets is implied. In particular neo-Kaleckian hypotheses about the relation between the profit share and capacity utilisation (Bhaduri and Marglin 1990, Blecker 1999) is explored. In this study, a Kaleckian-Post-Keynesian macroeconomic investment model, which is an extended version of the Bhaduri and Marglin (1990) serves as the starting point. This study attempts to investigate the impact of financial development on domestic investment behaviour.
|Item Type:||Conference Item (Refereed Research Paper - E1)|
|Keywords:||financial indicators; investment; employment; Kaleckian growth|
The conference incorporated the 8th Path to Full Employment Conference and the 13th National Conference on Unemployment.
|Date Deposited:||13 Sep 2012 02:12|
|FoR Codes:||14 ECONOMICS > 1401 Economic Theory > 140102 Macroeconomic Theory @ 50%
14 ECONOMICS > 1403 Econometrics > 140305 Time-Series Analysis @ 50%
|SEO Codes:||91 ECONOMIC FRAMEWORK > 9101 Macroeconomics > 910109 Savings and Investments @ 50%
91 ECONOMIC FRAMEWORK > 9101 Macroeconomics > 910199 Macroeconomics not elsewhere classified @ 50%
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