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THE KALECKIAN ANALYSIS OF DEMAND‐LED GROWTH
Author(s) -
Sawyer Malcolm
Publication year - 2012
Publication title -
metroeconomica
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.256
H-Index - 29
eISSN - 1467-999X
pISSN - 0026-1386
DOI - 10.1111/j.1467-999x.2011.04127.x
Subject(s) - economics , demand side , supply side , effective demand , supply and demand , demand management , falling (accident) , post keynesian economics , neoclassical economics , keynesian economics , microeconomics , macroeconomics , medicine , environmental health
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.