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A comment on 'Testing Goodwin: growth cycles in ten OECD countries'

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  • Matheus R. Grasselli
  • Aditya Maheshwari

Abstract

We revisit the results of Harvie (2000) and show how correcting for a reporting mistake in some of the estimated parameter values leads to significantly different conclusions, including realistic parameter values for the Philips curve and estimated equilibrium employment rates exhibiting on average one tenth of the relative error of those obtained in Harvie (2000).

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  • Matheus R. Grasselli & Aditya Maheshwari, 2018. "A comment on 'Testing Goodwin: growth cycles in ten OECD countries'," Papers 1803.01527, arXiv.org.
    • Handle: RePEc:arx:papers:1803.01527
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    References listed on IDEAS

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    1. Harvie, David, 2000. "Testing Goodwin: Growth Cycles in Ten OECD Countries," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 24(3), pages 349-376, May.
    2. A. B. Atkinson, 1971. "The Timescale of Economic Model How Long is the Long Run?," Palgrave Macmillan Books, in: F. H. Hahn (ed.), Readings in the Theory of Growth, chapter 19, pages 248-263, Palgrave Macmillan.
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