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The Macroeconomic Implications of Profit Sharing: Some Empirical Evidence

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  • Wadhwani, Sushil B

Abstract

The Macroeconomic Implications of Profit Sharing: Some Empiricals paper attempts an empirical assessment of Weitzman's proposition that profit sharing provides an antidote to stagflation. Taking Japan as an example of a profit-sharing economy, the author shows that it does not have either lower cyclical variability of output or lower inflation than other industrial countries. The authors then reject the propositions that in a profit-sharing economy: (1) aggregate demand shocks have a smaller effect on output deviations and (2) import price shocks and wage push have a smaller effect on inflation. Therefore, one should be wary of the claim that the Japanese case supports Weitzman's model. Copyright 1987 by Royal Economic Society.

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  • Wadhwani, Sushil B, 1987. "The Macroeconomic Implications of Profit Sharing: Some Empirical Evidence," Economic Journal, Royal Economic Society, vol. 97(388a), pages 171-183, Supplemen.
    • Handle: RePEc:ecj:econjl:v:97:y:1987:i:388a:p:171-83
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    Cited by:

    1. Vikram Kumar, 2019. "Profit Shares as Virtual Equity: Short-Run Isomorphism of Share & Wage Systems," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 11(7), pages 1-45, July.
    2. Christopher A. Pissarides, 1987. "Wages and Employment: A Framework for Analysis with Application to Three Policy Issues," The Economic Record, The Economic Society of Australia, vol. 63(4), pages 301-312, December.
    3. Hossein Bastanzad & Pedram Davoudi & Hossein Tavakolian, 2018. "Foreign Exchange Rate Pricing at the Future Contract (Case of I.R. of Iran)," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 22(1), pages 253-293, Winter.
    4. Gaetano Cuomo, 2015. "Imprese cooperative e democrazia economica," STUDI ECONOMICI, FrancoAngeli Editore, vol. 2015(116), pages 5-38.

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