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Los determinantes de las ganancias en México y los Estados Unidos: una revaloración teórica y empírica de la ecuación de las ganancias de Kalecki (1935)

Author

Listed:
  • Martínez Hernández, Francisco A.

    (UAM)

  • Herrera Aguilar, Saúl

    (UNAM)

Abstract

This study undertakes a reappraisal of Kalecki’s profit equation from a standpoint both theoretical and empirical. The analysis begins with a historical review of the determinants of profits within the Keynesian theoretical tradition. It subsequently revisits Kalecki’s formulation and, for the first time, articulates its relationship with sectoral balances—private, public, and external. The empirical component examines sectoral balance dynamics in the Mexican and U. S. economies and proceeds with an econometric estimation of the profit equation for both cases.

Suggested Citation

  • Martínez Hernández, Francisco A. & Herrera Aguilar, Saúl, 2026. "Los determinantes de las ganancias en México y los Estados Unidos: una revaloración teórica y empírica de la ecuación de las ganancias de Kalecki (1935)," El Trimestre Económico, Fondo de Cultura Económica, vol. 93(369), pages 71-109, January-M.
    • Handle: RePEc:elt:journl:v:93:y:2026:i:369:p:71-109
    DOI: https://doi.org/10.20430/ete.v93i369.3187
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    Keywords

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    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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