Testing Keynes’ aggregate investment function

2021 ◽  
pp. 1-17
Author(s):  
John T. Harvey
Keyword(s):  
Aggregate Investment ◽  
Investment Function

scholarly journals Capital-labor conflict in the Harrodian model

2021 ◽  
Author(s):  
Takashi Ohno
Keyword(s):  
Technological Change ◽  
Investment Function

AbstractThis study aims to consider the effect of capital-labor conflict in the Harrodian model. For this purpose, we incorporate a Bhaduri–Marglin-type investment function, reserve army effect, and technological change in the Harrodian model. Using this model, we find that not only both the reserve army effect and a Bhaduri–Marglin-type investment function but also technological change are needed for a stable Harrodian model. Second, the degree of technological change must lie within a specific range for the model to be stable.

scholarly journals Firm‐level Investment Spikes and Aggregate Investment over the Great Recession

Economica ◽  
2019 ◽  
Vol 87 (345) ◽  
pp. 217-248
Author(s):  
Richard Disney ◽  
Helen Miller ◽  
Thomas Pope
Keyword(s):  
Great Recession ◽  
Firm Level ◽  
The Great Recession ◽  
Aggregate Investment

An empirical investigation of Begg's rational expectations investment function

1992 ◽  
Vol 20 (4) ◽  
pp. 85-85
Author(s):  
John Leonard ◽  
Joseph Prinzinger ◽  
Fidelis Akagha
Keyword(s):  
Rational Expectations ◽  
Empirical Investigation ◽  
Investment Function

An Empirical Study of Interaction-Based Aggregate Investment Fluctuations

2016 ◽  
Vol 68 (2) ◽  
pp. 137-157 ◽  
Author(s):  
Luigi Guiso ◽  
Chaoqun Lai ◽  
Makoto Nirei
Keyword(s):  
Empirical Study ◽  
Aggregate Investment

scholarly journals Aggregate Investment

10.3386/w6264 ◽  
1997 ◽  
Author(s):  
Ricardo Caballero
Keyword(s):  
Aggregate Investment

Wage- and profit-led growth regimes: a panel-data approach

2021 ◽  
Vol 9 (3) ◽  
pp. 394-412
Author(s):  
Guilherme de Oliveira ◽  
Eduardo Prado Souza
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Panel Data ◽  
Latin American ◽  
Structural Characteristics ◽  
Developed Countries ◽  
Domestic Investment ◽  
Growth Regime ◽  
Investment Function ◽  
Trade Channel

The extensive empirical effort made in the growth and distribution literature to estimate whether economic growth is wage- or profit-led has not sufficiently considered the theoretical foundation of the Neo-Kaleckian model. This paper attempts to respect key tenets of the investment function by estimating a panel-data model in which country-specific structural characteristics and possible endogenous relationships in income distribution and economic growth are explicitly considered. The identification strategy is based on several estimates of the capital stock and the rate of capacity utilization for 61 countries over the period between 1995 and 2014. The main results suggest that the growth regime was wage-led in developed countries, while most developing countries exhibited a profit-led growth regime. Interestingly, however, while the profit-led regime occurs through the international trade channel in Latin American countries, in other developing countries, the causality channel is mainly related to the domestic investment function.

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