Keynes in the General Theory, explains the monetary nature of the interest rate by means of the liquidity preference theory. The objective of this paper is twofold. First, to point out the limits of the liquidity preference theory. Second, to present an explanation of the monetary nature of the...

This paper applies the framework of endogenous timing in games to mixed quantity duopoly, wherein a private – domestic or foreign – firm competes with a public, welfare maximizing firm. We show that simultaneous play never emerges as a subgame-perfect equilibrium of the extended game, in...

This study surveys theoretical models providing alternative rationales for corporate hedging.

In this paper we study the role of the eurozone’s institutional design in determining the sovereign debt crisis of the peripheral euro countries by means of a post-Keynesian eurozone center-periphery model Within this framework, three points are formally addressed. The incomplete nature of the...

The paper shows that cardinal utility entered economic analysis during the Ordinal Revolution initiated by Pareto and not, as many popular histories of utility theory assume, before it. Cardinal utility was the outcome of a discussion begun by Pareto about the capacity of ranking transitions...

The rise of “born global” companies, i.e. companies that internationalize their activities from inception or shortly thereafter led researchers to explore the various aspects related to early internationalization. Nevertheless, authors argue that further evidence and analysis on these firms...

This study explores the characteristics of Italian foreign direct investment (FDI) in India and aims at filling the gap identified in the literature by providing a comprehensive empirical analysis on this issue. More specifically, we try to understand the reasons behind internationalization...

In this paper, we propose a simple post-Keynesian model on the linkages between the financial and real side of an economy. We show how, according to the Minskyan instability hypothesis, financial variables, credit availability and asset prices in particular, may feedback each other and affect...

This paper uses Vector Autoregressions that allow for nonstationarity and cointegration to investigate the dynamic relation between income and emissions in the period 1970-2008, for all world countries. We consider three emissions compounds, namely CO2, SO2 and a composite global warming index...