IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/30183.html
   My bibliography  Save this paper

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

Author

Listed:
  • Soklis, George

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.

Suggested Citation

  • 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.
    • Handle: RePEc:pra:mprapa:30183
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/30183/1/MPRA_paper_30183.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Zonghie Han & Bertram Schefold, 2006. "An empirical investigation of paradoxes: reswitching and reverse capital deepening in capital theory," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 30(5), pages 737-765, September.
    2. Lefteris Tsoulfidis, 2002. "Values, prices of production and market prices: some more evidence from the Greek economy," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 26(3), pages 359-369, May.
    3. Theodore Mariolis, 2008. "Pure Joint Production, Income Distribution, Employment And The Exchange Rate," Metroeconomica, Wiley Blackwell, vol. 59(4), pages 656-665, November.
    4. Steedman, Ian, 1976. "Positive Profits with Negative Surplus Value: A Reply to Wolfstetter," Economic Journal, Royal Economic Society, vol. 86(344), pages 873-876, December.
    5. George Soklis, 2011. "Shape Of Wage–Profit Curves In Joint Production Systems: Evidence From The Supply And Use Tables Of The Finnish Economy," Metroeconomica, Wiley Blackwell, vol. 62(4), pages 548-560, November.
    6. Christian Bidard, 1984. "La Production Jointe," Post-Print hal-03094472, HAL.
    7. Steedman, Ian, 1975. "Positive Profits with Negative Surplus Value," Economic Journal, Royal Economic Society, vol. 85(337), pages 114-123, March.
    8. Theodore Mariolis, 2004. "Pure joint production and international trade: a note," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 28(3), pages 449-456, May.
    9. Bidard, Christian, 1997. "Pure Joint Production," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 21(6), pages 685-701, November.
    10. Steedman, Ian, 1982. "Joint Production and the Wage-Rent Frontier," Economic Journal, Royal Economic Society, vol. 92(366), pages 377-385, June.
    11. Christian Bidard & Guido Erreygers, 1998. "Sraffa and Leontief on Joint Production," Review of Political Economy, Taylor & Francis Journals, vol. 10(4), pages 427-446.
    12. Kurz,Heinz D. & Salvadori,Neri, 1997. "Theory of Production," Cambridge Books, Cambridge University Press, number 9780521588676.
    13. Salvadori, Neri & Steedman, Ian, 1988. "Joint Production Analysis in a Sraffian Framework," Bulletin of Economic Research, Wiley Blackwell, vol. 40(3), pages 165-195, June.
    14. J. v. Neumann, 1945. "A Model of General Economic Equilibrium," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 13(1), pages 1-9.
    15. 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 118-129.
    16. 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, vol. 15(2), pages 87-107, September.
    17. Steedman, Ian, 1976. "Positive Profits with Negative Surplus Value: A Reply," Economic Journal, Royal Economic Society, vol. 86(343), pages 604-608, September.
    18. Heinz Kurz & Neri Salvadori, 2001. "Sraffa and von Neumann," Review of Political Economy, Taylor & Francis Journals, vol. 13(2), pages 161-180.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mariolis, Theodore, 2019. "The location of the value theories in the complex plane and the degree of regularity-controllability of actual economies," MPRA Paper 96972, 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;Society for the Development of Austrian Economics, vol. 26(2), pages 207-220, June.
    3. Nadia Garbellini & Ariel Luis Wirkierman, 2014. "Productivity Accounting in Vertically (Hyper-)integrated Terms: Bridging the Gap between Theory and Empirics," Metroeconomica, Wiley Blackwell, vol. 65(1), pages 154-190, February.
    4. Theodore Mariolis & Lefteris Tsoulfidis, 2016. "Capital theory ‘paradoxes’ and paradoxical results: resolved or continued?," Evolutionary and Institutional Economics Review, Springer, vol. 13(2), pages 297-322, December.
    5. Nikolaos Ntemiroglou, 2016. "The Sraffian Multiplier and the Key-Commodities for the Greek Economy: Evidence from the Input-Output Tables for the Period 2000-2010," Bulletin of Political Economy, Bulletin of Political Economy, vol. 10(1), pages 1-24, June.
    6. Theodore Mariolis, 2015. "Norm Bounds and A Homographic Approximation for the Wage–Profit Curve," Metroeconomica, Wiley Blackwell, vol. 66(2), pages 263-283, May.
    7. Mariolis, Theodore, 2014. "Η θεωρία οικονομικών κρίσεων του Karl Marx [Karl Marx’s theory of economic crises]," MPRA Paper 56831, University Library of Munich, Germany.
    8. 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.
    9. Mariolis, Theodore & Soklis, George, 2014. "The Sraffian Multiplier for the Greek Economy: Evidence from the Supply and Use Table for the Year 2010," MPRA Paper 60253, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. George Soklis, 2009. "The Conversion of the Supply and Use Tables to Symmetric Input-Output Tables: A Critical Review," Bulletin of Political Economy, Bulletin of Political Economy, vol. 3(1), pages 51-70, June.
    2. 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, vol. 15(2), pages 87-107, September.
    3. Mariolis, Theodore & Soklis, George, 2014. "The Sraffian Multiplier for the Greek Economy: Evidence from the Supply and Use Table for the Year 2010," MPRA Paper 60253, University Library of Munich, Germany.
    4. Mariolis, Theodore, 2010. "Κριτική Έκθεση του "Νόμου της Πτωτικής Τάσης του Ποσοστού Κέρδους" του K. Marx: Κατανομή Εισοδήματος, Επισώρευση Κεφαλαίου και Τεχνολογική Μεταβολή στη Μακρά Περίοδο [Critical Exposition ," MPRA Paper 22461, University Library of Munich, Germany.
    5. Nikolaos Ntemiroglou, 2016. "The Sraffian Multiplier and the Key-Commodities for the Greek Economy: Evidence from the Input-Output Tables for the Period 2000-2010," Bulletin of Political Economy, Bulletin of Political Economy, vol. 10(1), pages 1-24, June.
    6. Mariolis, Theodore, 2010. "A neo-Ricardian critique of the traditional static theory of trade, customs unions and common markets," MPRA Paper 23088, University Library of Munich, Germany.
    7. Mariolis, Theodore, 2006. "A Critical Note on Marx’s Theory of Profits," MPRA Paper 24044, University Library of Munich, Germany.
    8. 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;Society for the Development of Austrian Economics, vol. 26(2), pages 207-220, June.
    9. Mariolis, Theodore & Soklis, George & Groza, Heleni, 2010. "An Input-Output Approach to the Estimation of the Maximum Attainable Economic Dependency Ratio in four European Economies," MPRA Paper 22661, University Library of Munich, Germany.
    10. Theodore Mariolis & Lefteris Tsoulfidis, 2016. "Capital theory ‘paradoxes’ and paradoxical results: resolved or continued?," Evolutionary and Institutional Economics Review, Springer, vol. 13(2), pages 297-322, December.
    11. Christian Bidard & Guido Erreygers, 1998. "The number and type of long-term equilibria," Journal of Economics, Springer, vol. 67(2), pages 181-205, June.
    12. Heinz D. Kurz, 2011. "The Contributions of Two Eminent Japanese Scholars to the Development of Economic Theory: Michio Morishima and Takashi Negishi," Chapters, in: Heinz D. Kurz & Tamotsu Nishizawa & Keith Tribe (ed.), The Dissemination of Economic Ideas, chapter 13, Edward Elgar Publishing.
    13. 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.
    14. Biao Huang, 2019. "Revisiting fixed capital models in the Sraffa framework," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 36(2), pages 351-371, July.
    15. Mariolis, Theodore & Ntemiroglou, Nikolaos & Soklis, George, 2018. "Η Σραφφαϊανή Καμπύλη Αυτόνομης Ζήτησης-Μεταβιβαστικών Πληρωμών Της Ελληνικής Οικονομίας Για Το Έτος 2010 [The Sraffian Autonomous Demand-Transfer Payments Curve for the Greek Economy]," MPRA Paper 86520, University Library of Munich, Germany.
    16. Theodore Mariolis & Nikolaos Ntemiroglou & George Soklis, 2018. "The static demand multipliers in a joint production framework: comparative findings for the Greek, Spanish and Eurozone economies," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 7(1), pages 1-20, December.
    17. Mariolis, Theodore, 2006. "A Critique of the ‘New Approach’ to the Transformation Problem and a Proposal," MPRA Paper 24019, University Library of Munich, Germany.
    18. Heinz D. Kurz & Tamotsu Nishizawa & Keith Tribe (ed.), 2011. "The Dissemination of Economic Ideas," Books, Edward Elgar Publishing, number 14521.
    19. Dominique Levy & Gérard Dumenil, 1982. "Valeurs et prix de production. Le cas des productions jointes," Revue Économique, Programme National Persée, vol. 33(1), pages 30-70.
    20. Mariolis, Theodore & Tsoulfidis, Lefteris, 2010. "Eigenvalue distribution and the production price-profit rate relationship in linear single-product systems: theory and empirical evidence," MPRA Paper 43716, University Library of Munich, Germany.

    More about this item

    Keywords

    Wage-profit curves; joint production; supply and use tables; input-output analysis;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:30183. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.