紀要論文 A Note on Dutt and Sen's (1997) Microfoundation for the Kalecki Model

Tanaka, Jumpei

52 ( 1・2・3・4 )  , pp.37 - 42 , 2017-03 , 北九州市立大学経済学会
ISSN:13472623
NII書誌ID(NCID):AA11572872
内容記述
Dutt and Sen (1997) constructed a monopolistic competition model with union bargaining to provide a rigorous microfoundation for the Kalecki model. They demonstrated that a change in the money stock impacts real variables, such as output, when the nominal level of the worker's reservation wage is exogenously given. We demonstrate, however, that when its real level is given, the neutrality of money revives, which means that the main feature of the Keynes-Kalecki model no longer holds true.
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