Kalecki’s investment model: an empirical analysis of the United States, 1948-1980

Ednaldo Araquem da Silva ()

Brazilian Journal of Political Economy, 1986, vol. 6, issue 2, 193-199

Abstract: Though published in the early 1930’s, and despite recent interest in his theory,Kalecki’s investment model has not been subject to much empirical testing. This paper specifiesa three equation short run version of Kalecki’s investment model and estimates it usingannual U.S. data between 1948-1980. A surprising result is that U.S. economy appears tohave been dynamically unstable in the period analyzed, with cycles of increasing amplitude. JEL Classification: B51; E22; E32; E11.

Keywords: investment; Kalecki; economic cycle (search for similar items in EconPapers)
Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:ekm:repojs:v:6:y:1986:i:2:p:193-199:id:1790

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