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Accumulation, distribution and employment. A structural VAR approach to a Post-Keynesian Macro Model.

Stockhammer, Engelbert and Onaran, Özlem (2002) Accumulation, distribution and employment. A structural VAR approach to a Post-Keynesian Macro Model. Working Papers Series "Growth and Employment in Europe: Sustainability and Competitiveness", 20. Inst. für Volkswirtschaftstheorie und -politik, WU Vienna University of Economics and Business, Vienna.

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Abstract

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. (authors' abstract)

Item Type: Paper
Keywords: Keynesian economics / macroeconomics / capital accumulation / distribution / unemployment / structural vectorautoregression
Classification Codes: JEL E1, E12, E2, E3
Divisions: Departments > Volkswirtschaft
Depositing User: Repository Administrator
Date Deposited: 28 May 2002 14:09
Last Modified: 16 Jun 2011 12:05
URI: http://epub.wu.ac.at/id/eprint/1220

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