In this paper, we correct a flaw in Proposition 1 of Yoshihara (2010). The original proof of Proposition 1 is correct only with the existence of reproducible solutions with zero profit rate. In contrast, this note provides an alternative characterization of the domain of economies under which...

In this paper, we examine what appropriate formulations for labor exploitation are, in order to explain the emergence of class and exploitation status in capitalist economies. Given the well-known controversy on plausible formulations for labor exploitation in joint production economies, we...

We demonstrate a statistical procedure for selecting the most suitable empirical model to test an economic theory, using the example of the test for purchasing power parity based on the Big Mac Index. Our results show that supporting evidence for purchasing power parity, conditional on the...