Kaldor's facts

Kaldor's facts are six statements about economic growth, proposed by Nicholas Kaldor in his article of 1957. He described these as "a stylised view of the facts", which coined the term stylized fact.

Nicholas Kaldor summarized the statistical properties of long-term economic growth in an influential 1957 paper. He pointed out the 6 following 'remarkable historical constancies revealed by recent empirical investigations':

Kaldor did not claim that any of these quantities would be constant at all times; on the contrary, growth rates and income shares fluctuate strongly over the business cycle. Instead, his claim was that these quantities tend to be constant when averaging the data over long periods of time. His broad generalizations, which were initially derived from U.S. and U.K. data, but were later found to be true for many other countries as well, came to be known as 'stylized facts'.

These may be summarized and related as follows:

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