On Kaldor and pensions
重新表述并扩展了卡尔多储蓄函数,纳入职业养老金储蓄,并用英国数据检验,结果支持扩展后的企业资本主义储蓄函数,对生命周期假说等提出质疑。
In this paper, the 'kaldorian saving function' on differential propensities between household and corporate income is restated and extended to account for saving through occupational pension funds. The extended hypothesis is then tested and compared to Nicholas Kaldor's own, using recent U.K. data. Solid support is found for the Kaldorian hypothesis and the extended 'corporate capitalism saving function.' The author's findings cast doubt on the life cycle and related hypotheses on savings. They also raise interesting questions about neoclassical and post-Keynesian theories of growth and distribution. Copyright 1997 by Oxford University Press.