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On Kaldor and Pensions

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  • Pitelis, Christos

Abstract

In this paper, the 'kaldorian saving function' on differential propensities between household and corporate income is restated and extended to account for saving through occupational pension funds. The extended hypothesis is then tested and compared to Nicholas Kaldor's own, using recent U.K. data. Solid support is found for the Kaldorian hypothesis and the extended 'corporate capitalism saving function.' The author's findings cast doubt on the life cycle and related hypotheses on savings. They also raise interesting questions about neoclassical and post-Keynesian theories of growth and distribution. Copyright 1997 by Oxford University Press.

Suggested Citation

  • Pitelis, Christos, 1997. "On Kaldor and Pensions," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 21(4), pages 469-482, July.
  • Handle: RePEc:oup:cambje:v:21:y:1997:i:4:p:469-82
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    Cited by:

    1. Yannis A. Monogios & Christos Pitelis, 2004. "On (Ultra) rationality and the corporate and government veils," Manchester School, University of Manchester, vol. 72(3), pages 382-402, June.
    2. Michael Sumner, 2004. "Corporate Retentions and Consumers’ Expenditure," Manchester School, University of Manchester, vol. 72(1), pages 119-130, January.
    3. Peter Flaschel & Peter Skott, 2006. "Steindlian Models Of Growth And Stagnation," Metroeconomica, Wiley Blackwell, vol. 57(3), pages 303-338, July.
    4. Amit Bhaduri & Kazimierz Laski & Martin Riese, 2006. "A Model Of Interaction Between The Virtual And The Real Economy," Metroeconomica, Wiley Blackwell, vol. 57(3), pages 412-427, July.

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