著者

Iyoda Mitsuhiko Matthews Kent

出版者

桃山学院大学

雑誌

桃山学院大学総合研究所紀要 (ISSN:1346048X)

巻号頁・発行日

vol.27, no.1, pp.57-75, 2001-07-10

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This paper constructs a Kalecki type Kaldorian model to examine features of the Japanese business cycle and a number of stylized facts. The model aims to explain the changes in the macro-economic variables associated with the business cycle. The model is tested by simulation to reproduce the observed statistical properties of the economy. The model is successful in reproducing the trend element in the key variables and is moderately successful in reproducing the dynamic path. The model is successful in mimicking the cyclical pattern of productivity and real wages, but is less successful in the cases of the labour share, the profit rate and the mark-up rate.