Distribution, aggregate demand and productivity growth: theory and empirical results for six OECD countries based on a post-Kaleckian model
基于Bhaduri/Marglin变体的卡莱茨基模型，从理论和实证上研究了生产率增长如何受总需求和成本推动效应影响，对六个OECD国家进行了估计，并得出经济政策结论。
Empirical research based on the Bhaduri/Marglin-variant of the Kaleckian model has recently shown that aggregate demand in many medium-sized and large open economies tends to be wage-led in the medium to long run, even in a period of increasing globalisation. In this paper we extend this type of analysis and integrate the effects on productivity growth, theoretically and empirically. Productivity growth is introduced into the theoretical model making use of the Verdoorn effect or of Kaldor's technical progress function and hence of a positive relationship between GDP or capital stock growth and productivity growth. Further on, a cost-push or Marx/Hicks-effect and hence a positive impact of real wage growth or the wage share on productivity growth is taken into account. In the empirical part we estimate productivity growth equations for six countries introducing these two effects. Finally, economic policy conclusions are drawn. Copyright The Author 2009. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved., Oxford University Press.