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Erscheinungsjahr: 
1989
Schriftenreihe/Nr.: 
Working Paper No. 33
Verlag: 
Levy Economics Institute of Bard College, Annandale-on-Hudson, NY
Zusammenfassung: 
This essay contrasts the production function approach to Kaldor's model of increasing returns which are demand-determined. In particular, the essay analyzes Kaldor's three major empirical "laws", which were adopted by later economists, and the criticisms of these three "laws" by economists who used the Cobb-Douglas production function as a basis of analysis. In conclusion, the essay finds that econometrics has provided an inadequate basis upon which to choose between this aggregate production function and Kaldor's model of growth.
Dokumentart: 
Working Paper

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