The concept of ‘stylized facts’ is usually attributed to Nicholas Kaldor, who discussed this concept in a well-known 1958 Corfu conference paper (1961) on capital accumulation and economic growth. While the term ‘stylized facts’ is widely used today in many varied contexts, Kaldor had a specific use in mind.
KeywordsAssumptions Capital accumulation Explanation Income distribution Kaldor, N. Keynesian–classical model Models Neoclassical theory Stylized facts
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