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A model of the Keynesian theory for Portugal. Another perspective

Martinho, Vítor João Pereira Domingues (2011): A model of the Keynesian theory for Portugal. Another perspective.

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Abstract

With this work we try to present a model for Portugal based on the Keynesian theory. We built the model taking into account the Verdoorn Law, with the alternative specifications of (1)Kaldor (1966), for the twenty eight Portuguese regions (NUTS III) and from 1995 to 1999. We had in mind, yet in this work, the alternative interpretation of (2)Rowthorn (1975) of the Verdoorn's Law for the same regions and periods. The results of this work will be complemented with estimates of these relationships to other sectors of the economy than the industry (primary and services sector) and for the total economy of each region.

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