Marx-Biased Technical Change and Income Distribution: A Panel Data Analysis

33 Pages Posted: 27 Jun 2018 Last revised: 4 Feb 2019

See all articles by Travis Campbell

Travis Campbell

University of Massachusetts Amherst

Daniele Tavani

Colorado State University, Fort Collins - Department of Economics

Date Written: February 2, 2019

Abstract

This paper provides a further empirical evaluation of the Neoclassical theory of distribution as opposed to Marx-biased technical change (MBTC) by applying the theoretical and empirical framework developed by Foley and Michl (1999), Michl (1999, 2009) and Basu (2010) to a panel of countries. Basu (2010) developed a test based on cross-sectional data: we argue that a panel data analysis is instrumental in increasing the efficiency and validity of the test. Our results generalize Basu’s findings in providing support for MBTC and against the Neoclassical theory of income distribution.

Keywords: Technical Change, Income Distribution, Panel Data

JEL Classification: B51, C33, D33, O47

Suggested Citation

Campbell, Travis and Tavani, Daniele, Marx-Biased Technical Change and Income Distribution: A Panel Data Analysis (February 2, 2019). Available at SSRN: https://ssrn.com/abstract=3196104 or http://dx.doi.org/10.2139/ssrn.3196104

Travis Campbell

University of Massachusetts Amherst ( email )

Department of Operations and Information Managemen
Amherst, MA 01003
United States

Daniele Tavani (Contact Author)

Colorado State University, Fort Collins - Department of Economics ( email )

Fort Collins, CO 80523-1771
United States
9704916657 (Phone)

HOME PAGE: http://https://economics.colostate.edu/author/dtavani/

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