Lord Keynes — Kaldor’s Growth Laws and Verdoorn’s Law: An Overview and Bibliography

More for your reference file.

Social Democracy For The 21St Century: A Post Keynesian Perspective

Kaldor’s Growth Laws and Verdoorn’s Law: An Overview and Bibliography
Lord Keynes

Lars P. Syll — Bernie Sanders and the Verdoorn law

So, the nodal point is — has the Verdoorn Law been validated or not in empirical studies?

There have been hundreds of studies that have tried to answer that question, and as could be imagined, the answers differ. The law has been investigated with different econometric methods (time-series, IV, OLS, ECM, cointegration, etc.). The statistical and econometric problems are enormous (especially when it comes to the question, highlighted by Romer & Romer, on the direction of causality). Given this, however, most studies on the country level do confirm that the Verdoorn law holds — United States included. Most of the studies are for the period before the subprime crisis of 2006/2007, but if anything, it is more in line with Friedman than Romer & Romer.

Lars P. Syll’s Blog
Bernie Sanders and the Verdoorn law
Lars P. Syll | Professor, Malmo University

Progrowth Liberal — The Sanders Fiscal Stimulus and Verdoon’s Law

I have been saying Team Bernie needs to hire economists to model out the economic effects of his policy proposals. This Verdoon effect might be something worth exploring.

Econospeak
The Sanders Fiscal Stimulus and Verdoon’s Law

Progrowth Liberal