Profit rate in the US, 1949–2007: a Markov switching assessment

Marcelo Resende

Applied Economics Letters, 2018, vol. 25, issue 9, 628-631

Abstract: The article investigates the growth in the general profit rate in the US during the 1949–2007 period with a Markov switching model. The evidence is consistent with a long swing with means displaying opposite signs under the two regimes (increasing or declining) and high degree of persistence within each regime. The results for this nonlinear approach reinforce previous empirical evidence that does not provide support for a systematic and declining tendency in profit rate as advanced in the Marxian literature.

Date: 2018
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/13504851.2017.1352074 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:25:y:2018:i:9:p:628-631

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RAEL20

DOI: 10.1080/13504851.2017.1352074

Access Statistics for this article

Applied Economics Letters is currently edited by Anita Phillips

More articles in Applied Economics Letters from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().