The evolution of the rate of profit reflects both changes in income distribution and technical conditions of production. The purpose of this paper is to present estimates of the rate of profit for the Greek economy using input-output data spanning the period 1988-1997 and, at the same time, to...

This paper studies the production techniques employed in economies that reproduce themselves. Special attention is paid to the distinction usually made between those that do not produce a surplus and those that do, which are referred to as first and second class economies, respectively. Based on...

This paper analyzes labor productivity and the law of decreasing labor content (LDLC) originally formulated by Farjoun and Machover (1983). First, it is shown that the standard measures of labor productivity may be rather misleading, owing to their emphasis on monetary aggregates. Instead, the...

Using input–output data from Symmetric Input–Output Tables for the year 2010 and relevant price models, this paper provides empirical estimations of medium- and long-run effects of wage and currency devaluations on international price competitiveness and income distribution for two ‘PIIGS...

This paper uses input–output data from Supply and Use Tables for the year 2010 and provides empirical estimations of the static demand multipliers in a joint production framework for two representative Southern Eurozone economies, i.e., Greece and Spain, and for the Eurozone economy as a...

Productivity seems an obvious concept: output per unit of input. Yet, when contextualised within alternative views of production and distribution, challenges across attempts at measuring it are far from trivial. The aim of this paper is to present and discuss some foundational concepts for...

Many economic models (e.g., computable general equilibrium models, econometric input–output models) revolve around a matrix of technical coefficients. However, these matrices can be estimated only once every 5 years as long as they are calculated from input–output tables and these are only...

The problem of competitiveness has becoming one of the main concerns of European governments. This is reflected trough out the Europe 2020 Strategy that includes as key priority the promotion of efficient and productive use of inputs. Differently to other "well-behaved" European "neighbours", in...