The determination of investment in the monetary production economy: a theory and its empirical application in the Post Keynesian tradition

Mitsuhiko Iyoda

Journal of Post Keynesian Economics, 2005, vol. 28, issue 1, 115-133

Abstract: This paper deals with the determination of investment in the monetary production economy. We test the empirical validity of a model based on Davidson and Minsky's examples in the Post Keynesian tradition. Based on Davidson and Minsky, we construct a simple model of the endogenous determination of investment. An empirical model is tested based on the spirit of the Davidson-Minsky approach for Japan. The results suggest that the Post Keynesian approach has an interpretative value both theoretically and empirically.

Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:mes:postke:v:28:y:2005:i:1:p:115-133

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DOI: 10.1080/01603477.2005.11051464

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