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Profits, Wages and Productivity in the Business Cycle: A Kaldorian Analysis by Mitsuhiko Iyoda (Paperback, 2012)

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Product Information

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. First, there is no common feature on whether labor share moves countercyclically or procyclically; however, labor share increases in the fIrst year of contraction and decreases in the fIrst year of expansion, though there are some exceptions. Second, the profIt rate moves pro cyclically . Third, labor productivity moves pro cyclically and shows a symmetrical change; productivity sharply increases in the fIrSt year of expansion in terms of the growth rate and decreases in the fIrst year of con- traction. Fourth, the real wage rate has no common feature. Finally, labor shares with and without labor income of self-employment imputed from self-employment income are almost parallel (except for Japan), and their move- ments are also similar, though they move differently for some years. To explain these facts, I examine three types of model (or theory)-Kaldorian theory, real-business-cycle theory, and new Keynesian theory-but the focus is on Kaldor's approach-hence, the book's subtitle, A Kaldorian Analysis.

Product Identifiers

Publisher
Springer
ISBN-13
9789401062602
eBay Product ID (ePID)
139719144

Product Key Features

Author
Mitsuhiko Iyoda
Publication Name
Profits, Wages and Productivity in the Business Cycle: a Kaldorian Analysis
Format
Paperback
Language
English
Subject
Economics
Publication Year
2012
Type
Textbook
Number of Pages
160 Pages

Dimensions

Item Height
235mm
Item Width
155mm
Item Weight
296g

Additional Product Features

Title_Author
Mitsuhiko Iyoda
Country/Region of Manufacture
Netherlands

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Profits, Wages and Productivity in the Business Cycle: A Kaldorian Analysis by Mitsuhiko Iyoda (Paperback, 2012)

Best-selling in Adult Learning & University

Secrets Of Mental Math: The Mathemagician's Guide to Lightening Calculation and Amazing Maths Tricks by Arthur Benjamin, Michael Shermer (Paperback, 2006)

Never Split the Difference: Negotiating as if Your Life Depended on It by Chris Voss, Tahl Raz (Paperback, 2017)

Die with Zero: Getting All You Can from Your Money and Your Life by Bill Perkins (Paperback, 2021)

The Psychology of Money: Timeless lessons on wealth, greed, and happiness by Morgan Housel (Paperback, 2020)

Code of Practice for In-service Inspection and Testing of Electrical Equipment by The Institution of Engineering and Technology (Paperback, 2020)

The Red Book: A Reader's Edition by C. G. Jung (Hardcover, 2012)

New Functional Skills Maths Level 2 - Study & Test Practice (for 2020 & beyond) by CGP Books (Paperback, 2015)

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