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Wage-led versus profit-led demand: what have we learned? A Kaleckian–Minskyan view
2017
Review of Keynesian Economics
The Bhaduri-Marglin model has become a widely used workhorse model in heterodox macroeconomics and has given rise to two dozen or so empirical studies, which at times have given conflicting results. Neo-Kaleckians and neo-Goodwinians have applied different estimation strategies, with the former typically estimating behavioural equations, while the latter have often used reduced-form demand equations. Further differences include the lag structure, the output measure, the control variables and
doi:10.4337/roke.2017.01.03
fatcat:rbfi7zj4snahneiaqu3hvb2sgu