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

Theodore Mariolis ()

Bulletin of Political Economy, 2015, vol. 9, issue 2, 161-170

Abstract: 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.

Date: 2015
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