On the ‘utilisation controversy’: a theoretical and empirical discussion of the Kaleckian model of growth and distribution
围绕卡莱茨基增长与分配模型中的利用率争议展开，指出美联储产能利用率数据不适用，提出基于资本平均工作周的更合适度量，并从微观和宏观层面论证正常利用率的内生性，最后通过计量分析验证了这一观点。
This paper examines the ‘utilisation controversy’ around the Kaleckian model of growth and distribution. We show that the Federal Reserve data on capacity utilisation, which have been used by both sides of this debate, are the wrong kind of data for the issue under examination. Instead, a more appropriate measurement can be derived from the data on the average workweek of capital. We argue that the long-run dynamic adjustment, proposed by Kaleckian scholars, lacks a coherent economic rationale. We provide an alternative path towards the endogeneity of the desired utilisation at the micro and macro levels. Finally, we examine the proposed adjustment mechanism econometrically. Our results verify the endogeneity of the normal utilisation rate.