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Accumulation, distribution and employment: a structural VAR approach to a post-Keynesian macro model

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Author Info
Engelbert Stockhammer () (Department of Economics, Vienna University of Economics & B.A.)
Özlem Onaran () (Department of Economics, Istanbul Technical University)

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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.

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Publisher Info
Paper provided by Vienna University of Economics and B.A. Research Group: Growth and Employment in Europe: Sustainability and Competitiveness in its series Working Papers with number geewp20.

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Date of creation: May 2002
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Handle: RePEc:wiw:wiwgee:geewp20

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Related research
Keywords: Keynesian economics; macroeconomics; capital accumulation; distribution; unemployment; structural vectorautoregression;

Find related papers by JEL classification:
E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
E2 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment
E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles

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  1. Eckhard Hein & Lena Vogel, 2007. "Distribution and growth reconsidered - empirical results for Austria, France, Germany, the Netherlands, the UK and the USA," IMK Working Paper 03-2007, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute. [Downloadable!]
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