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The Investment Function Revisited: Disciplining Capital in Korea

Seguino, Stephanie
Munich Personal RePEc Archive · Reports
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capacitycapitalintellectual-property-rightsresearch-and-developmenttechnological-change
Post-Keynesian and Marxian macro models assume that wage increases that lower profits have an adverse impact on investment spending. The experience of Korea during the period 1975-1993 contradicts this assumption. This paper reports results obtained from estimating a modified neo-Kaleckian investmen
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