On the Neoclassical and Kaldorian Perspectives

Mert, Merter

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On the Neoclassical and Kaldorian Perspectives

International Journal of Research in Commerce, Economics & Management, Vol. 6, No. 3, pp. 94-98, 2016

18 Pages Posted: 13 Jun 2016 Last revised: 29 May 2017

See all articles by Merter Mert

Merter Mert

Department of Economics, AHBV University

Date Written: 2016

Abstract

This study proposes a testing procedure for neoclassical and Kaldorian perspectives to analyze sources of growth. If the Solow model is valid, then supply-side implications will be important. However, if the Kaldor model is valid, then it means that both supply-side and demand-side explanations matter. Besides, Kaldorian perspective also points out analyzing the endogeneity of the natural rate of growth and its sources. This analysis implies demand-side macroeconomic policies in order to influence or control possible relations among technological progress, labour force and labour productivity.

Keywords: Sources of Growth, Endogeneity of Natural Rate of Growth, Solow, Kaldor

JEL Classification: O40, O49

Suggested Citation: Suggested Citation

Mert, Merter, On the Neoclassical and Kaldorian Perspectives (2016). International Journal of Research in Commerce, Economics & Management, Vol. 6, No. 3, pp. 94-98, 2016, Available at SSRN: https://ssrn.com/abstract=2794341