This paper estimates the distribution-led regime of the US economy for the period 1947-2019. We use a time varying parameter model, which allows for changes in the regime over time. To the best of our knowledge this is the first paper that has attempted to do this. This innovation is important,...

This paper discusses some issues related to the triangle between capital accumulation, distribution, and capacity utilization. First, it explains why utilization is a crucial variable for the various theories of growth and distribution-more precisely, with regards to their ability to combine an...

The paper makes three contributions. First, following up on Nikiforos (2016), it provides an in-depth examination of the Federal Reserve measure of capacity utilization and shows that it is closer to a cyclical indicator than a measure of long run variations of normal utilization. Other...

The paper provides an empirical discussion of the national emergency utilization rate (NEUR), which is based on a "national emergency" definition of potential output and is published by the US Census Bureau. Over the peak-to-peak period 1989-2019, the NEUR decreased by 14.2 percent. The paper...

The paper provides an empirical discussion of the national emergency utilization rate (NEUR), which is based on a "national emergency" definition of potential output and is published by the US Census Bureau. Over the peak-to-peak period 1989-2019, the NEUR decreased by 14.2 percent. The paper...

This paper estimates the distribution-led regime of the US economy for the period 1947-2019. We use a time varying parameter model, which allows for changes in the regime over time. To the best of our knowledge this is the first paper that has attempted to do this. This innovation is important,...

This paper discusses some issues related to the triangle between capital accumulation, distribution, and capacity utilization. First, it explains why utilization is a crucial variable for the various theories of growth and distribution-more precisely, with regards to their ability to combine an...

This paper discusses some issues related to the triangle between capital accumulation, distribution, and capacity utilization. First, it explains why utilization is a crucial variable for the various theories of growth and distribution-more precisely, with regards to their ability to combine an...