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REDISTRIBUTION IN A NEO-KALECKIAN TWO-COUNTRY MODEL

机译：新卡莱克两国模型中的再分配

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摘要

We investigate the interaction between demand-driven growth and income distribution in open economies, by combining expenditure-switching and demand spillover effects in a neo-Kaleckian two country model. First, we specify elasticities of wage share and real exchange rate to the money wage relative to labor productivity, in order to precisely describe the distributive pass-through from money wages to the labor share and the real exchange rate. Second, we analyze the demand effects of an increase in the money wage for given labor productivity (a redistribution towards labor) in both Home and Foreign country, as well as globally. We derive closed form results for two identical countries. These results indicate that redistribution towards labor at Home: (ⅰ) always increases growth globally if Home is wage-led, but can lead to lower growth at Home relative to Foreign; and (ⅱ) will always imply lower growth at Home relative to Foreign if Home is profit-led, but can still be growth-enhancing at Home. Thus, to the extent that countries are concerned with their relative economic performance, a fallacy of composition can emerge. Numerical simulations suggest that these fallacies could indeed occur. As a consequence, 'returns to coordination' over international labor policies might be substantial.
机译：通过结合新卡莱克国家模型中的支出转换和需求溢出效应，我们研究了开放经济中需求驱动的增长与收入分配之间的相互作用。首先，我们指定工资份额和实际汇率相对于劳动生产率的货币工资的弹性，以便精确地描述从货币工资到劳动份额和实际汇率的分配传递。其次，我们分析了在本国和外国以及全球范围内，对于给定的劳动生产率，货币工资增加的需求效应（对劳动的重新分配）。我们得出两个相同国家的封闭式结果。这些结果表明，对本国劳动力的重新分配：（ⅰ）如果以本国工资为主导，则总会在全球范围内促进增长，但可能导致本国相对于外国人的增长降低； （ⅱ）始终表示，如果Home以利润为导向，则Home相对于Foreign的增长率较低，但是Home仍然可以促进增长。因此，就各国关注其相对经济表现的程度而言，可能出现构成上的谬误。数值模拟表明，这些谬误确实可能发生。结果，对国际劳工政策的“恢复协调”可能是实质性的。

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  • 来源
    《Metroeconomica》 |2014年第3期|430-459|共30页
  • 作者

    Rudiger von Arnim; Daniele Tavani; Laura Carvalho;

  • 作者单位

    University of Utah, Colorado State University and Sao Paulo School of Economics-FGV,Department of Economics University of Utah Salt Lake City UT USA;

    University of Utah, Colorado State University and Sao Paulo School of Economics-FGV,Department of Economics Colorado State University Fort CollinsCO USA;

    University of Utah, Colorado State University and Sao Paulo School of Economics-FGV,Sao Paulo School of Economics Getulio Vargas Foundation Sao Paulo Brazil;

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