|Title:||International Competition and Distributive Class Conflict in an Open Economy Kaleckian Model|
|Authors:||Sasaki, Hiroaki |
|Author's alias:||佐々木, 啓明|
|Abstract:||This paper constructs an open economy Kaleckian model in which international competition affects the bargaining process between firms and workers, and investigates the effects of such bargaining on the macroeconomy. We show that the effects of a change in the bargaining power on aggregate demand depends not only on the demand regimes but also on which agents bears more of the burden arising from the international price competition. Moreover, if the real exchange rate has a small impact on the trade balance, the economy is stable, whereas if it has a larger impact on the trade balance, the economy is unstable.|
|Rights:||© 2013 John Wiley & Sons Ltd. This is the peer reviewed version of the following article: Sasaki, H., Sonoda, R. and Fujita, S. (2013), International Competition and Distributive Class Conflict in an Open Economy Kaleckian Model. Metroeconomica, 64: 683–715, which has been published in final form at http://dx.doi.org/10.1111/meca.12030|
This is not the published version. Please cite only the published version.
|Appears in Collections:||Journal Articles|
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