The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Stylized Facts

  • Lawrence A. Boland
Reference work entry


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.


Assumptions Capital accumulation Explanation Income distribution Kaldor, N. Keynesian–classical model Models Neoclassical theory Stylized facts 

JEL Classifications

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  1. Kaldor, N. 1961. Capital accumulation and economic growth. In The theory of capital, ed. F. Lutz. London: Macmillan.Google Scholar
  2. Romer, P. 1989. Capital accumulation in the theory of long-run growth. In Modern business cycle theory, ed. R. Barro. Cambridge, MA: Harvard University Press.Google Scholar
  3. Romer, D. 1996. Advanced macroeconomics. New York: McGraw-Hill.Google Scholar
  4. Solow, R. 1970. Growth theory: An exposition. Oxford: Clarendon Press.Google Scholar

Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Lawrence A. Boland
    • 1
  1. 1.