Testing Goodwin’s Growth Cycle Disaggregated Models: Evidence from the Input-Output Tables of the Greek Economy for the years 1988-1997
This paper tests two of Goodwin’s growth cycle disaggregated models empirically, using data from the symmetric input-output tables of the Greek economy for the years 1988-1997. It is found from a qualitative as well as a quantitative point of view that both models are not adequate to describe the long-run workers’ share-employment rate trajectories of the Greek economy. However, in the medium-run analysis, the evidence presented here is more encouraging: at a qualitative level, one of the models considered is found to be adequate to describe the cyclical behaviour of the workers’ share and employment rate.
Volume :- No.10 (2016)
Issue No :- 2 (2016)
Pages :- 99-118