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Who should bear the pain of price competition? A Kaleckian approach
Review of Keynesian Economics ( IF 1.8 ) Pub Date : 2019-07-01 , DOI: 10.4337/roke.2019.03.04
Shinya Shinya 1
Affiliation  

Ongoing globalization and the rise of neoliberalism have intensified price competition in domestic and international markets. If we consider a cost reduction owing to price competition, an important question arises: what is the most effective way of reducing costs to stimulate output and growth? By constructing a Kaleckian model with an intermediate goods sector and a final goods sector, we show that reducing the mark-up rate in the latter sector rather than the former promotes capacity utilization and capital accumulation. Moreover, we show that transferring the burden of the cost reduction onto workers in the intermediate goods sector decreases the demand and growth rate.

中文翻译:

价格竞争之痛谁来承担?卡莱克方法

持续的全球化和新自由主义的兴起加剧了国内和国际市场的价格竞争。如果我们考虑由于价格竞争而降低成本,那么就会出现一个重要问题:降低成本以刺激产出和增长的最有效方法是什么?通过构建具有中间产品部门和最终产品部门的 Kaleckian 模型,我们表明降低后者而不是前者的加成率会促进产能利用率和资本积累。此外,我们表明,将降低成本的负担转移到中间产品部门的工人身上会降低需求和增长率。
更新日期:2019-07-01
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