A Post-Keynesian Policy Model (original) (raw)

Keywords: Kaleckian demand, Kaldorian productivity JEL classification: E12, E20, C, 63, C68 Abstract: This paper discusses a Post���Keynesian policy 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 ...