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Investigación económica
Print version ISSN 0185-1667
Inv. Econ vol.63 n.248 Ciudad de México Apr./Jun. 2004
Artículos
Accumulation Regimes, Endogenous Desired Rate of Capacity Utilization and Income Distribution*
Régimen de acumulación, tasa deseada de utilización de la capacidad endógena y distribución del ingreso
**PHD in Economics at Federal University od Rio de Janeiro and Professor of Economics at Universidade Federal do Paraná, Curitiba, Brazil <joreiro@sociais.ufpr.br> <www.joseluisoreiro.ecn.br>.
The objective of this article is to analyse the effects of the introduction of desired rate of capacity utilisation in the macroeconomic structure of Post Keynesian growth models over the relation between income distribution, effective degree of capacity utilisation and economic growth. In order to do so, we will suppose that desired rate of capacity utilisation is a decreasing function of profit share. This change in the macroeconomic structure will produce a short run equilibrium configuration of the economy in which there is two equilibrium levels of productive capacity utilization and two equilibrium rates of growth. In this situation, an increase in wage share can produce either an increase or a decrease in the effective level of capacity utilization, depending on the initial value of this variable. For the long run equilibrium configuration of the economy, the endogenous treatment of planned degree of productive capacity utilization will produce a change in the causality relation between income distribution and economic growth. In our model, changes in the functional income distribution do not affect the growth rate of capital stock. In the long run, growth rate of capital stock is completely determined by the “animal spirits” of the capitalists, not being affected by changes in income distribution between wages and profits.
El objetivo de este artículo es analizar los efectos de la introducción de la tasa deseada de utilización de la capacidad en la estructura macroeconómica de los modelos de crecimiento poskeynesianos sobre la relación entre la distribución del ingreso, el grado efectivo de utilización y el crecimiento económico. Para ello se supondrá que la tasa deseada de utilización de la capacidad es una función decreciente de la cuota de ganancia. Este cambio en la estructura macroeconómica producirá un equilibrio a corto plazo en la configuración de la economía en la cual hay dos niveles de equilibrio productivo de la utilización de la capacidad y dos tasas de crecimiento equilibrado. Bajo esta situación, un incremento en la cuota de salario puede producir un incremento o un decremento en el nivel efectivo de utilización, dependiendo del valor inicial de esta variable. Para la configuración del equilibrio a largo plazo de la economía, el trato endógeno del grado planeado de la utilización de la capacidad productiva producirá un cambio en la relación de causalidad entre la distribución del ingreso y el crecimiento económico. En nuestro modelo, los cambios en la distribución del ingreso funcional no afectan la tasa de crecimiento del acervo de capital. En el largo plazo, la tasa de crecimiento del acervo de capital está completamente determinada por los “espíritus animales” de los capitalistas, y no es afectada por los cambios en la distribución del ingreso entre salarios y ganancias.
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Received: October 2002; Accepted: October 2003
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