Testing Bienenfeld’s Second-Order Approximation for the Wage-Profit Curve


This paper constructs Bielefeld’s second-order approximation for the wage-profit curve and tests it using data from ten symmetric input-output tables of the Greek economy. The results suggest that there is room for using low-dimensional models as surrogates for actual single-product economies.

Volume :- No.9 (2015)

Issue No :- 2 (2015)

Pages :- 161-170

Article PDF