TY - UNPB
T1 - Accumulation, distribution and employment. A structural VAR approach to a Post-Keynesian Macro Model.
AU - Stockhammer, Engelbert
AU - Onaran, Özlem
PY - 2002
Y1 - 2002
N2 - The paper investigates the relation between effective demand, income distribution and unemployment empirically. Its aim is to evaluate Keynesian, Kaldorian and neoclassical hypotheses about the determination of labor market variables. To do so, a vector autoregression model consisting of capital accumulation, capacity utilization, the profit share, unemployment and the growth of labor productivity is estimated. A general post-Keynesian model following the lines of Kalecki and Kaldor is presented and provides the specification for a structural VAR. The model is estimated for the USA, UK and France.
AB - The paper investigates the relation between effective demand, income distribution and unemployment empirically. Its aim is to evaluate Keynesian, Kaldorian and neoclassical hypotheses about the determination of labor market variables. To do so, a vector autoregression model consisting of capital accumulation, capacity utilization, the profit share, unemployment and the growth of labor productivity is estimated. A general post-Keynesian model following the lines of Kalecki and Kaldor is presented and provides the specification for a structural VAR. The model is estimated for the USA, UK and France.
U2 - 10.57938/75d35268-9608-4cf0-ba84-5f91507ca7d7
DO - 10.57938/75d35268-9608-4cf0-ba84-5f91507ca7d7
M3 - WU Working Paper and Case
T3 - Working Papers Series "Growth and Employment in Europe: Sustainability and Competitiveness"
BT - Accumulation, distribution and employment. A structural VAR approach to a Post-Keynesian Macro Model.
PB - Inst. für Volkswirtschaftstheorie und -politik, WU Vienna University of Economics and Business
CY - Vienna
ER -