A macro-distributive theory dispelling the econometric fog

S. WEINTRAUB

Abstract


The work presents a linear model of the private market sector of the economy built out of the main blocks of Keynes with some pieces furnished by Kalecki, Kaldor, and Robinson. The author argues that such model is rich in promise by virtue of its scope and that it strips much of the mystery from econometric models and demonstrates the circumstances in which they are likely to perform well or badly. The consistent relations offer hospitable shelter for the theory of income, employment, price level, and income shares in a succinct design. Pedagogically, the elemental ideas are capable of transmission at an early stage in economic studies.

 

JEL: E12


Keywords


Keynes, Kalecki, Kaldor, economic models, income, employment, price

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Copyright (c) 2016 S. WEINTRAUB

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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

 

 

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ISSN 2037-3643


Reg. Tribunale di Roma n.377/2009 del 19/11/2009