The following working paper by Ben Zipperer and Peter Skott is now available on our website:
Cyclical patterns of employment, utilization, and profitability
Abstract
The interaction between income distribution, accumulation, employment and the utilization of capital is central to macroeconomic models in the ‘heterodox’ tradition. This paper examines the stylized pattern of these variables using US data for the period after 1948. We look at the trends and cycles in individual time series and examine the bivariate cycical patterns among the variables.