| Description |
The dissertation is composed of three papers that tackle income-distribution issues through three episodes of the U.S. economy. The first essay investigates the dynamics of income distribution, debt, and growth applying a post-Keynesian approach to the era leading to the Great Depression. It uses the single equation error correction model method to determine the demand regime of the 1900-1929 period. The second paper sets up a model that incorporates income distribution and the accelerator relationship to explain investment behavior in the 1960-2015 period. It uses time series techniques to explore the statistical causality among investment spending, profit share, and capacity utilization. The third essay investigates the drivers of the Farmers Protest Movement in the late nineteenth century. It investigates the trends of the farmers' consumption habits, income, and production prices, in addition to the dynamics of land market. It concludes that the farmers were worse off economically, which explains their protest movement in the late nineteenth century. |
