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• W2088175094 abstract "The purpose of this paper is to contribute to the post-Keynesian/Kaleckian macroeconomic literature. We develop a macroeconomic model that explicitly integrates the role of borrowing and cash payment commitments on outstanding debt (interest plus principal repayment) into the consumption and investment expenditures, as well as into the inflation-generating process. We explore the way that finance influences the distribution effects of inflation in the demand-side of a money/credit-using economy; we suggest a new Phillips curve that encapsulates the impact of financial commitments on wage and profit claims. We argue that high debt and cash payment commitments are likely to be associated with a positive demand-side effect of inflation on the rate of employment; and that they might be conducive to a negative supply-side effect of employment on the inflation rate." @default.
• W2088175094 created "2016-06-24" @default.
• W2088175094 creator A5011040540 @default.
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• W2088175094 date "2011-04-18" @default.
• W2088175094 modified "2023-10-18" @default.
• W2088175094 title "Finance, inflation and employment: a post-Keynesian/Kaleckian analysis" @default.
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• W2088175094 doi "https://doi.org/10.1093/cje/ber002" @default.
• W2088175094 hasPublicationYear "2011" @default.
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