According to Kaldor (1970), regional growth patterns arise from a cumulative causation process as broadly combining two substantial mechanisms i.e. a productivity regime, known as the “Kaldor-Verdoorn” law, and a demand regime due to the expansion of exportations. This paper attempts to...

In this paper we investigate the effects of a negative term-of-trade shock over the real exchange rate and current account in Chile. The work is based on a macro-econometric model that belongs to the family of Keynesian macroeconomic models, which is characterized by nominal rigidities. The...

This research addresses the estimation of total factor productivity for Nicaragua throughout the period 1960-2019 by means of three methods: Solow residual, direct substitution method, and Malmquist index. Based on the results obtained, it is concluded that the direct substitution method is more...

The paper seeks to integrate the theoretical developments in the field of imperfect competition and monopoly, and operation of the firm in such conditions, with the theories of income distribution, particularly among the macroeconomic aggregates of capital and labor. And formulating a working...

The aim of this paper is to study the mechanisms through which aggregate demand and income distribution affect the rate of growth, in a post-keynesian framework rooted in the works of Michal Kalecki. Thus, this paper addresses some issues that are put aside by neoclassical theory, which focuses...

According to neoclassical economic theory, there is a negative relationship between real wages, and the level of output and employment. Therefore, neoclassical theory tends to favor policy measures that seek to diminish real wages and deregulate the labor market, explaining that poor economic...

In this bibliographic review, the Keynes‘main arguments against the Say’s law are gathered, this law was thought to be a special case of a broader and general theory and therefore more powerful as economic policy is concerned. These insights are vital, to understand Keynesian economics and...

In this paper we calculate the Keynesian multipliers of income, employment, imports and exports of the Peruvian economy for 101 economic activities based on information from the 2007 input-output table, taking into account the distinction between domestic origin and external of the goods and...

In this paper we calculate the Keynesian multipliers of income (value added), employment, imports and net exports for 101 economic activities of the Peruvian economy based on information from the 2007 input-output table. Our analysis considers the distinction between domestic and foreign origin...

This paper estimates the Keynesian multipliers of income (value added), employment, imports and net exports for 101 economic activities of the Peruvian economy based on information from the 2007 input-output table that takes into account domestic and external origin of the goods and services...