Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/64194
Authors: 
Skott, Peter
Year of Publication: 
2010
Series/Report no.: 
Working Paper, University of Massachusetts, Department of Economics 2010-08
Abstract: 
Structuralist and post Keynesian models differ in their assumptions about firms' investment behavior and pricing/output decisions. This paper compares three benchmark models: Kaleckian, Robinsonian and Kaldorian. We analyze the implications of these models for the steady growth path and the cyclical properties of the economy, and evaluate the consistency of the theoretical predictions with empirical evidence for the US. Our regression results and the stylized cyclical pattern of key variables are consistent with the Kaldorian model. The Kaleckian investment function and the Robinsonian pricing behavior find no support in the data.
Subjects: 
growth
business cycles
aggregate demand
instability
income distribution
utilization rate
investment function
pricing
JEL: 
E12
E32
O41
Document Type: 
Working Paper

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