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Wage-profit curves of the Finnish economy: evidence from the supply and use tables

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  • Soklis, George
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    Abstract

    This paper extends the empirical investigation of the shape of wage-profit curves to the case of joint production using data from the Supply and Use Tables of the Finnish economy (for the years 1995 through 2004). It is found that (i) the considered systems do not have the usual properties of single-product systems; and (ii) the monotonicity of the wage-profit curves depends on the adopted normalization condition.

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    File URL: http://mpra.ub.uni-muenchen.de/30183/
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    Bibliographic Info

    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 30183.

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    Date of creation: 2011
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    Handle: RePEc:pra:mprapa:30183

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    Keywords: Wage-profit curves; joint production; supply and use tables; input-output analysis;

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    1. Zonghie Han & Bertram Schefold, 2006. "An empirical investigation of paradoxes: reswitching and reverse capital deepening in capital theory," Cambridge Journal of Economics, Oxford University Press, vol. 30(5), pages 737-765, September.
    2. Theodore Mariolis, 2004. "Pure joint production and international trade: a note," Cambridge Journal of Economics, Oxford University Press, vol. 28(3), pages 449-456, May.
    3. Kurz,Heinz D. & Salvadori,Neri, 1995. "Theory of Production," Cambridge Books, Cambridge University Press, number 9780521443258, 9.
    4. Salvadori, Neri & Steedman, Ian, 1988. "Joint Production Analysis in a Sraffian Framework," Bulletin of Economic Research, Wiley Blackwell, vol. 40(3), pages 165-95, June.
    5. 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.
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    7. T Mariolis & G Soklis, 2010. "Additive Labour Values and Prices: Evidence from the Supply and Use Tables of the French, German and Greek Economies," Economic Issues Journal Articles, Economic Issues, Economic Issues, vol. 15(2), pages 87-107, September.
    8. 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.
    9. Theodore Mariolis, 2008. "Pure Joint Production, Income Distribution, Employment And The Exchange Rate," Metroeconomica, Wiley Blackwell, vol. 59(4), pages 656-665, November.
    10. Bidard, Christian, 1997. "Pure Joint Production," Cambridge Journal of Economics, Oxford University Press, vol. 21(6), pages 685-701, November.
    11. Steedman, Ian, 1975. "Positive Profits with Negative Surplus Value," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 85(337), pages 114-23, March.
    12. Christian Bidard & Guido Erreygers, 1998. "Sraffa and Leontief on Joint Production," Review of Political Economy, Taylor & Francis Journals, Taylor & Francis Journals, vol. 10(4), pages 427-446.
    13. Steedman, Ian, 1976. "Positive Profits with Negative Surplus Value: A Reply to Wolfstetter," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 86(344), pages 873-76, December.
    14. Steedman, Ian, 1976. "Positive Profits with Negative Surplus Value: A Reply," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 86(343), pages 604-08, September.
    15. Filippini, Carlo & Filippini, Luigi, 1982. "Two Theorems on Joint Production," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 92(366), pages 386-90, June.
    16. Steedman, Ian, 1982. "Joint Production and the Wage-Rent Frontier," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 92(366), pages 377-85, June.
    17. Christian Bidard, 2005. "Introduction," Revue d'├ęconomie politique, Dalloz, vol. 0(4), pages 373-378.
    18. 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.
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