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

Mariolis, Theodore (2015): Testing Bienenfeld’s Second-Order Approximation for the Wage-Profit Curve.

Abstract

This paper constructs Bienenfeld’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.

• Item Type: MPRA Paper
• Language: English
• Keywords: Bienenfeld’s polynomial approximation; Eigenvalue distribution; Wage-price-profit rate curves
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B51 - Socialist ; Marxian ; Sraffian; C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C67 - Input-Output Models; D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D57 - Input-Output Tables and Analysis

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