The paper builds a non-linear macrodynamic model to study the relation between the functional distribution of income, technological progress and economic growth. In the short-term, the interaction between the productivity regime, the demand regime and the distributive conflict generates cyclical paths a la Goodwin. In the long-term, output growth rate is constrained by the balance of payments a la Thirlwall, in which the elasticities of foreign trade are modeled as a function of the complex relation between the wage-share and the innovation capabilities of theeconomy.
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