This paper examines the effectiveness of redistribution policies under budget constraint considering government spending for the productivity improvement and effective demand. It shows that an asset-based redistributi...This paper examines the effectiveness of redistribution policies under budget constraint considering government spending for the productivity improvement and effective demand. It shows that an asset-based redistribution policy is not always effective under effective demand and budget constraint. However, the increase of effective demand because of an income-based redistribution improves employment, labor productivity, and wage rates because of increased government spending for productivity improvement as the results of saving rate from profit income show. A distinctive feature of this paper is considering effective demand with political aspects. Workers＇ demands on unemployment compensation depend on the demand and supply condition in the goods market. The model implicitly assumes that labor is strong enough to affect political institutions and social security system is prepared enough to affect goods market. Therefore, the model built in this research is applicable to Europe in the real world.展开更多
The paper makes a comparative review and evaluation of different theories on impacts of the distribution of labor and capital income on economic growth as well as criticism of the mainstream theories and suggests usin...The paper makes a comparative review and evaluation of different theories on impacts of the distribution of labor and capital income on economic growth as well as criticism of the mainstream theories and suggests using Bhaduri-Marglin model as the theoretical basis for relevant research. By formulating the econometric model and analyzing time series data from 1978 to 2012, the paper makes an empirical research into the impact of labor share on economic growth in China. It has discovered that the positive effect of labor share on consumption demand growth in China outweighs its negative effect on investment and net export growth, concluding that growth in China is wage-led at present. That may mean that （1） increasing labor share promotes growth and the goals of equality and efficiency supports each other,＂ （2） the demand and optimizing structure＂ lies in regulation tools. key to ＂stabilizing growth, expanding domestic establishing a set of pro-labor institution and展开更多
文摘This paper examines the effectiveness of redistribution policies under budget constraint considering government spending for the productivity improvement and effective demand. It shows that an asset-based redistribution policy is not always effective under effective demand and budget constraint. However, the increase of effective demand because of an income-based redistribution improves employment, labor productivity, and wage rates because of increased government spending for productivity improvement as the results of saving rate from profit income show. A distinctive feature of this paper is considering effective demand with political aspects. Workers＇ demands on unemployment compensation depend on the demand and supply condition in the goods market. The model implicitly assumes that labor is strong enough to affect political institutions and social security system is prepared enough to affect goods market. Therefore, the model built in this research is applicable to Europe in the real world.
文摘The paper makes a comparative review and evaluation of different theories on impacts of the distribution of labor and capital income on economic growth as well as criticism of the mainstream theories and suggests using Bhaduri-Marglin model as the theoretical basis for relevant research. By formulating the econometric model and analyzing time series data from 1978 to 2012, the paper makes an empirical research into the impact of labor share on economic growth in China. It has discovered that the positive effect of labor share on consumption demand growth in China outweighs its negative effect on investment and net export growth, concluding that growth in China is wage-led at present. That may mean that （1） increasing labor share promotes growth and the goals of equality and efficiency supports each other,＂ （2） the demand and optimizing structure＂ lies in regulation tools. key to ＂stabilizing growth, expanding domestic establishing a set of pro-labor institution and
