Was Ireland's Celtic Tiger Period Profit-led or Wage-led?

Autor:	Stephen Kinsella
Rok vydání:	2013
Předmět:	Effective demand Labour economics Profit (accounting) media_common.quotation_subject Economics Econometrics and Finance (miscellaneous) Wage Recession language.human_language Irish Political Science and International Relations language Economics Celtic Tiger Redistribution of income and wealth Productivity media_common
Zdroj:	Review of Political Economy. 25:572-585
ISSN:	1465-3982 0953-8259
DOI:	10.1080/09538259.2013.837324
Popis:	This paper examines the macroeconomic performance of the Irish economy in the years leading up to the Celtic Tiger period and afterward, from 1980 to 2011. The goal of the paper is to determine how a severe recession in the 1980s could be followed so quickly by the unprecedented boom years of the Celtic Tiger, and followed again by the marked economic downturn since 2007. I build a Keynesian model of growth that integrates effective demand and productivity regimes to allow for the possibility that a redistribution of income can either spur or retard growth, depending on whether the regime is wage-led or profit-led. Using data for the Irish economy I test this model for wage-led or profit-led growth, finding plausible evidence that the Celtic Tiger years were, in fact, profit led.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::3b26be82e8328d009a5277512ad57b2c https://doi.org/10.1080/09538259.2013.837324 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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