The evolution of the rate of profit reflects both changes in income distribution and technical conditions of production. The purpose of this paper is to present estimates of the rate of profit for the Greek economy using input-output data spanning the period 1988-1997 and, at the same time, to...

This paper investigates Goodwin’s Lotka-Volterra model in disaggregative form. It is found that the dynamic behavior of the model depends on the material input coefficients matrix.

This paper tests empirically the well-known Goodwin’s ‘growth cycle’ disaggregated models, using data from the symmetric input-output table of the Greek economy for the year 1988. It is found that from qualitative as well as quantitative point of view, both models are not adequate to...

Using a multisectoral model and the latest data from the OECD Input-Output Tables (IOTs2021 ed.), this article estimates labour and capital productivities of the 38 OECD member countries. As measures of the productivity of labour, we consider the inverse of the vertically integrated labour...

This essay explores the ralationships between income distribution, capital accumulation and technological change in the long-run. It is shown that a falling rate of profit is not a necessity for the capitalist mode of production.

The purpose of this paper is to explore, in terms of input-output models, the proximate determinants of the maximum attainable Economic Dependency Ratio and to provide estimates of that ratio in four European economies (Finnish, German, Greek, Spanish). The evaluation of the results reveals...

The vast majority of meaningful discussions about the processes of economic integration and liberalization of trade have so far revolved around the neoclassical theory. This paper is based on the neo-Ricardian theory, briefly investigates the issues of free trade, customs unions and common...

This paper explores the dynamics of the Greek public debt and its relationship with the ‘twin deficits’, that is, the public and current account deficits. By modeling the evolution of these variables and using actual data of the Greek economy, this paper shows that the public debt is...

This paper shows that the ‘New Approach’ to the ‘problem of transforming values into prices’, first, is subjected to a crucial logical inconsistency and second, is not in a position to deal with the heterogeneous labour case. Thus, the paper proposes an approach, which overcomes these...

In a world of heterogeneous capital the aggregate capital-capacity ratio can change in a complicated way as the real wage rate changes and, therefore, nothing useful can be said, a priori, about the relationships between the real wage rate (or the aggregate profit share), the degree of capacity...