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Additive Labour Values and Prices: Evidence from the Supply and Use Tables of the French, German and Greek Economies

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  • T Mariolis
  • G Soklis

Abstract

This paper finds, on the basis of a usual 'square' linear model of joint production, that the vectors of additive labour values and/or actual prices of production associated with the Supply and Use Tables of the Greek economy (for the years 1995 and 1999) are economically insignificant, whilst the relevant vectors of the French (for the years 1995 and 2005) and German (for the years 2000 and 2005) economies are economically significant. The evaluation of the results reveals certain technical-social features of the economies under consideration and casts doubt on the logic of the so-called empirical labour theory of value.

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Bibliographic Info

Article provided by Economic Issues in its journal Economic Issues.

Volume (Year): 15 (2010)
Issue (Month): 2 (September)
Pages: 87-107

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Handle: RePEc:eis:articl:210mariolis

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  1. Raa, M.H. ten & Kop Jansen, P., 1990. "The choice of model in the construction of input-output coefficients matrices," Open Access publications from Tilburg University urn:nbn:nl:ui:12-381948, Tilburg University.
  2. Flaschel, Peter, 1980. " The Derivation and Comparison of Employment Multipliers and Labour Productivity Indexes Using Monetary and Physical Input-Output Tables," Economic Change and Restructuring, Springer, vol. 16(3), pages 118-29.
  3. Flaschel, Peter, 1983. "Actual Labor Values in a General Model of Production," Econometrica, Econometric Society, vol. 51(2), pages 435-54, March.
  4. Lefteris Tsoulfidis & Theodore Mariolis, 2007. "Labour Values, Prices of Production and the Effects of Income Distribution: Evidence from the Greek Economy," Economic Systems Research, Taylor & Francis Journals, vol. 19(4), pages 425-437.
  5. Ian Steedman, 1992. "Joint Production and the 'New Solution' to the Transformation Problem," Indian Economic Review, Department of Economics, Delhi School of Economics, vol. 27, pages 123-127.
  6. Thijs ten Raa & José M. Rueda-Cantuche, 2005. "The problem of negatives in input-output analysis: a review of the solutions," Economic Working Papers at Centro de Estudios Andaluces E2005/07, Centro de Estudios Andaluces.
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  8. Steedman, Ian, 1976. "Positive Profits with Negative Surplus Value: A Reply," Economic Journal, Royal Economic Society, vol. 86(343), pages 604-08, September.
  9. Steedman, Ian & Metcalfe, J S, 1981. "On Duality and Basic Commodities in an Open Economy," Australian Economic Papers, Wiley Blackwell, vol. 20(36), pages 133-41, June.
  10. Christian Bidard & Guido Erreygers, 1998. "Sraffa and Leontief on Joint Production," Review of Political Economy, Taylor & Francis Journals, vol. 10(4), pages 427-446.
  11. Thijs ten Raa & José Manuel Rueda Cantuche, 2003. "The Construction of input-output Coefficients Matrices in an Axiomatic Context: Some Further Considerations," Economic Working Papers at Centro de Estudios Andaluces E2003/30, Centro de Estudios Andaluces.
  12. Steedman, Ian & Tomkins, Judith, 1998. "On Measuring the Deviation of Prices from Values," Cambridge Journal of Economics, Oxford University Press, vol. 22(3), pages 379-85, May.
  13. Lefteris Tsoulfidis, 2002. "Values, prices of production and market prices: some more evidence from the Greek economy," Cambridge Journal of Economics, Oxford University Press, vol. 26(3), pages 359-369, May.
  14. Steedman, Ian, 1975. "Positive Profits with Negative Surplus Value," Economic Journal, Royal Economic Society, vol. 85(337), pages 114-23, March.
  15. Bidard, Christian, 1997. "Pure Joint Production," Cambridge Journal of Economics, Oxford University Press, vol. 21(6), pages 685-701, November.
  16. Filippini, Carlo & Filippini, Luigi, 1982. "Two Theorems on Joint Production," Economic Journal, Royal Economic Society, vol. 92(366), pages 386-90, June.
  17. Cockshott, W Paul & Cottrell, Allin F, 1997. "Labour Time versus Alternative Value Bases: A Research Note," Cambridge Journal of Economics, Oxford University Press, vol. 21(4), pages 545-49, July.
  18. Jansen, Pieter Kop & ten Raa, Thijs, 1990. "The Choice of Model in the Construction of Input-Output Coefficients Matrices," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 31(1), pages 213-27, February.
  19. Lefteris Tsoulfidis, 2008. "Price-value deviations: further evidence from input-output data of Japan," International Review of Applied Economics, Taylor & Francis Journals, vol. 22(6), pages 707-724.
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Cited by:
  1. Soklis, George, 2009. "The Conversion of the Supply and Use Tables to Symmetric Input-Output Tables: A Critical Review," MPRA Paper 46873, University Library of Munich, Germany.
  2. Theodore Mariolis & George Soklis & Eugenia Zouvela, 2013. "Testing Böhm-Bawerk’s theory of capital: Some evidence from the Finnish economy," The Review of Austrian Economics, Springer, vol. 26(2), pages 207-220, June.
  3. Soklis, George, 2011. "Wage-profit curves of the Finnish economy: evidence from the supply and use tables," MPRA Paper 30183, University Library of Munich, Germany.
  4. Iliadi, Fotoula & Mariolis, Theodore & Soklis, George & Tsoulfidis, Lefteris, 2012. "Bienenfeld’s approximation of production prices and eigenvalue distribution: some more evidence from five European economies," MPRA Paper 36282, University Library of Munich, Germany.

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