Autonomous demand and technical change: exploring the Kaldor–Verdoorn law on a global level

Matteo Deleidi, Claudia Fontanari and Santiago José Gahn ()
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Claudia Fontanari: Roma Tre University
Santiago José Gahn: University of Bari Aldo Moro

Economia Politica: Journal of Analytical and Institutional Economics, 2023, vol. 40, issue 1, No 3, 57-80

Abstract: Abstract This paper aims to explain labour productivity through the lens of a Kaldorian perspective. To assess the relationship between output, demand, capital accumulation, and labour productivity, we apply Panel Structural Vector Autoregressive (P-SVAR) modelling to a dataset of 52 countries observed over a long-time span as provided by the Penn World Table. Findings validate the Kaldorian perspective and show that demand shocks—measured by government expenditures and exports—produce positive and persistent effects on labour productivity. Findings are confirmed even when the full sample is broken down to consider developed and developing countries separately.

Keywords: Labour productivity; Autonomous demand; Panel SVAR; Penn World Table; Kaldor–Verdoorn (search for similar items in EconPapers)
JEL-codes: C33 E12 E24 O33 O47 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (8)

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Working Paper: Autonomous Demand and Technical Change: Exploring the Kaldor-Verdoorn Law on a Global Level (2022)
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DOI: 10.1007/s40888-023-00294-y

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