Heterodox
New Working Paper by Ahmad Borazan. From the abstract: It has become commonplace to raise the analogy between the recent experience of the dynamics of income distribution and growth, and that of the era before the Great Depression. However, no study of the demand regime has been done for the early twentieth century period; this study attempts to fill that gap in the literature. Based on a Kaldorian model, I estimate whether the demand regime of the pre-Great Depression era for private...
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