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An empirical evaluation of three post Keynesian models
Skott, Peter - 2010
Structuralist and post Keynesian models differ in their assumptions about firms' investment behavior and pricing … these models for the steady growth path and the cyclical properties of the economy, and evaluate the consistency of the … variables are consistent with the Kaldorian model. The Kaleckian investment function and the Robinsonian pricing behavior find …
Persistent link: https://www.econbiz.de/10010287839
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An empirical evaluation of three post-Keynesian models
Skott, Peter; Zipperer, Ben - In: Intervention. European Journal of Economics and … 09 (2012) 2, pp. 277-307
Structuralist and post-Keynesian models differ in their assumptions about firms' investment behavior and pricing … these models for the steady growth path and the cyclical properties of the economy, and evaluate the consistency of the … variables are consistent with the Kaldorian model. The Kaleckian investment function and the Robinsonian pricing behavior find …
Persistent link: https://www.econbiz.de/10014363154
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Cyclical patterns of employment, utilization, and profitability
Zipperer, Ben; Skott, Peter - In: Journal of Post Keynesian Economics 34 (2011) 1, pp. 25-58
The interaction between income distribution, accumulation, employment, and the utilization of capital is central to macroeconomic models in the "heterodox" tradition. This article examines the stylized pattern of these variables using U.S. data for the period after 1948. We look at the trends...
Persistent link: https://www.econbiz.de/10010612927
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Cyclical patterns of employment, utilization and profitability
Zipperer, Ben; Skott, Peter - Department of Economics, University of Massachusetts-Amherst - 2010
The interaction between income distribution, accumulation, employment and the utilization of capital is central to macroeconomic models in the `heterodox' tradition. This paper examines the stylized pattern of these variables using US data for the period after 1948. We look at the trends and...
Persistent link: https://www.econbiz.de/10008469954
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An empirical evaluation of three post Keynesian models
Skott, Peter; Zipperer, Ben - Department of Economics, University of Massachusetts-Amherst - 2010
Structuralist and post Keynesian models differ in their assumptions about firms’ investment behavior and pricing … these models for the steady growth path and the cyclical properties of the economy, and evaluate the consistency of the … variables are consistent with the Kaldorian model. The Kaleckian investment function and the Robinsonian pricing behavior find …
Persistent link: https://www.econbiz.de/10008672005
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An empirical evaluation of three post-Keynesian models
Skott, Peter; Zipperer, Ben - In: European Journal of Economics and Economic Policies: … 9 (2012) 2, pp. 277-307
Structuralist and post-Keynesian models differ in their assumptions about firms' investment behavior and pricing … these models for the steady growth path and the cyclical properties of the economy, and evaluate the consistency of the … variables are consistent with the Kaldorian model. The Kaleckian investment function and the Robinsonian pricing behavior find …
Persistent link: https://www.econbiz.de/10010821638
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Making the case for a low intertemporal elasticity of substitution
Braun, R. Anton; Nakajima, Tomoyuki - 2012
We provide two ways to reconcile small values of the intertemporal elasticity of substitution (IES) that range between 0.35 and 0.5 with empirical evidence that the IES is large. We do this reconciliation using a model in which all agents have identical preferences and the same access to asset...
Persistent link: https://www.econbiz.de/10010292314
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Debunking the granular origins of aggregate fluctuations: From real business cycles back to Keynes
Dosi, Giovanni; Napoletano, Mauro; Roventini, Andrea; … - 2018
", as proxied by productivity growth shocks - in line with the Real Business Cycle framework -, and we provide empirical … evidence of a "demand granularity", based on investment growth shocks instead. The role of demand in explaining aggregate …
Persistent link: https://www.econbiz.de/10012060635
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Appropriate fiscal policy over the business cycle: Proper stimulus policies can work
Graves, Philip E. - 2010
Fiscal policy has become quite controversial in the post-Keynesian era, the debate over the Obama stimulus package being a contentious recent example. Some pundits go so far as to take the position that macroeconomic theory has failed to meaningfully progress in terms of providing useful...
Persistent link: https://www.econbiz.de/10010270872
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The Factor-Shares Cycle and its Relation to the Business Cycle
Jackson, William A. - In: Business Cycles in Economics: Types, Challenges and …, (pp. 11-26). 2014
procyclical profit share and greater risks of financial instability. …
Persistent link: https://www.econbiz.de/10014334019