The rate of profit in the Greek economy 1988-1997 : An input-output analysis
Part of : Αρχείον οικονομικής ιστορίας ; Vol.XVIII, No.2, 2006, pages 177-190
Issue:
Pages:
177-190
Abstract:
The evolution of the rate of profit reflects both changes in income distribution and technical conditions of production. The purpose of this paper is to present estimates of the rate of profit for the Greek economy using input-output data spanning the period 1988-1997 and, at the same time, to decompose the evolution of the rate of profit to its constituent components. These estimations are carried out in terms of (i) market prices; (ii) labor values; and (iii) prices of production.
Subject:
Subject (LC):
Keywords:
Rate of profit, profit–wage ratio, productivity of labor and capital, input–output analysis
Notes:
JEL classification: C67, D30, D57, Appendices with input-output data & vector of market prices, We thank Dimitris Paitaridis for his help with the data on employment and wages, George Soklis for helpful comments on aprevious version of this paper and Nikolaos Stromplos for his advice with the input–output tables of the Greek Economy
