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

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  • 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

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    File URL: https://mpra.ub.uni-muenchen.de/30183/1/MPRA_paper_30183.pdf
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    References listed on IDEAS

    as
    1. 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.
    2. Bidard, Christian, 1997. "Pure Joint Production," Cambridge Journal of Economics, Oxford University Press, vol. 21(6), pages 685-701, November.
    3. Steedman, Ian, 1982. "Joint Production and the Wage-Rent Frontier," Economic Journal, Royal Economic Society, vol. 92(366), pages 377-385, June.
    4. Christian Bidard & Guido Erreygers, 1998. "Sraffa and Leontief on Joint Production," Review of Political Economy, Taylor & Francis Journals, vol. 10(4), pages 427-446.
    5. 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.
    6. 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.
    7. Christian Bidard, 2005. "Introduction," Revue d'économie politique, Dalloz, vol. 115(4), pages 373-378.
    8. J. v. Neumann, 1945. "A Model of General Economic Equilibrium," Review of Economic Studies, Oxford University Press, vol. 13(1), pages 1-9.
    9. 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.
    10. 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.
    11. Steedman, Ian, 1976. "Positive Profits with Negative Surplus Value: A Reply," Economic Journal, Royal Economic Society, vol. 86(343), pages 604-608, September.
    12. 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.
    13. Theodore Mariolis, 2008. "Pure Joint Production, Income Distribution, Employment And The Exchange Rate," Metroeconomica, Wiley Blackwell, vol. 59(4), pages 656-665, November.
    14. Steedman, Ian, 1975. "Positive Profits with Negative Surplus Value," Economic Journal, Royal Economic Society, vol. 85(337), pages 114-123, March.
    15. 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.
    16. 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.
    17. Heinz Kurz & Neri Salvadori, 2001. "Sraffa and von Neumann," Review of Political Economy, Taylor & Francis Journals, vol. 13(2), pages 161-180.
    18. Filippini, Carlo & Filippini, Luigi, 1982. "Two Theorems on Joint Production," Economic Journal, Royal Economic Society, vol. 92(366), pages 386-390, June.
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    More about this item

    Keywords

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

    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

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