This book attempts to explain the changes in specifiC macroeconomic vari ables-such as the relative share oflabor, the profIt rate, and the real wage rate in advanced capitalist economies-in relation to the influence of the business cycle in income distribution. In the pursuit of this inquiry, I fIrSt establish some stylized facts that I wish to investigate. The three countries discussed here-the United Kingdom, the United States, and Japan-are observed over a period of twenty-two years beginning in 1970, which covers at least three business cycles. This study makes several assumptions....
This book attempts to explain the changes in specifiC macroeconomic vari ables-such as the relative share oflabor, the profIt rate, and the real wage ...
The purpose of this book is to explain the changes in specific macroeconomic variables such as the relative share of labour, the profit rate and the real wage rate in advanced capitalist economies, in relation to the influence of the business cycle in income distribution. To explain these changes the author examines three types of theory - Kaldorian theory, the Real Business Cycle theory, and the new Keynesian theory - with a specific focus on Kaldor's approach.
The purpose of this book is to explain the changes in specific macroeconomic variables such as the relative share of labour, the profit rate and the r...
