The Kaleckian Analysis of Demand‐Led Growth

22 Pages Posted: 10 Jan 2012

Date Written: February 2012

Abstract

A Kaleckian model is outlined to explore how far such a model can be said to provide a demand‐led view of growth. The first issue examined is whether demand‐determined economic activity can be extended into some form of long‐term analysis. The second issue arises from a comparison between the growth rate of the employment and that of the labour force where difference between them leads to rising or falling employment rate. Hence the question arises as to the adaptation of the growth rates, and this is examined in terms of the relationship between the demand side and supply side of the economy.

Suggested Citation

Sawyer, Malcolm C., The Kaleckian Analysis of Demand‐Led Growth (February 2012). Metroeconomica, Vol. 63, Issue 1, pp. 7-28, 2012, Available at SSRN: https://ssrn.com/abstract=1982358 or http://dx.doi.org/10.1111/j.1467-999X.2011.04127.x

Malcolm C. Sawyer (Contact Author)

Levy Economics Institute ( email )

Blithewood
Annandale-on-Hudson, NY 12504-5000
United States
845-758-7700 (Phone)
845-758-1149 (Fax)

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