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Keynes' denial of conflict : why The General Theory is a misleading guide to capitalism and stagnation

Palley, Thomas - 2023

Keynes' General Theory was a massive step forward relative to classical economics, but it was also a step backward in …

Persistent link: https://www.econbiz.de/10014327477

A Post-Keynesian approach as an alternative to neoclassical in the explanation of monetary and financial system

Zachariadis, Savvas - In: Financial studies 24 (2020) 1, pp. 21-35

The aim of this paper is to provide a Post-Keynesian view to economic theory as an alternative to traditional theory … explained and resolved by mainstream theory. We wish not in this paper to contradict the conventional with Keynesian and Post …-Keynesian theory, but instead to provide an alternative and complementary view. However, we highlight the differences between …

Persistent link: https://www.econbiz.de/10012210643

The relevance of post-Keynesian macroeconomics for middle-income economies

Feijó, Carmem - In: Economia : revista da ANPEC 25 (2024) 3, pp. 393-404

Purpose This paper, based on the 2022 Master Class delivered at the 50th National Economic Meeting organized by ANPEC, discusses how post-Keynesian macroeconomics and New Developmentalism complement each other to understand middle-income economies' development in financial globalization. It...

Persistent link: https://www.econbiz.de/10015147906

On the possibility of an ever-increasing wealth concentration : Pasinetti, dual, and anti-dual equilibria in a Post-Keynesian framework

Ederer, Stefan; Rehm, Miriam - 2024

This paper develops a stock-flow consistent Post-Keynesian model in the Kalecki-Steindl tradition with endogenous wealth accumulation and distribution, which captures the key aspects of the Cambridge debate on (anti-)dual and Pasinetti equilibria. We find that a stable interior solution - that...

Persistent link: https://www.econbiz.de/10015149327

Demand and growth regimes in finance-dominated capitalism and a progressive equality-, sustainability- and domestic demand-led alternative : a post-Keynesian simulation approach

Hein, Eckhard; Prante, Franz; Bramucci, Alessandro - In: PSL quarterly review 76 (2023) 305, pp. 181-202

Making use of a post-Keynesian/Kaleckian two-country stock-flow consistent (SFC) simulation model, we shed light on different regimes in modern finance-dominated capitalism, their interaction at the global scale, and then on the changes in regimes after the 2007-09 crises. Most importantly, we...

Persistent link: https://www.econbiz.de/10014550808

Macroeconomic policy at the end of the age of abundance

Michell, Jo - In: European journal of economics and economic policies : … 20 (2023) 2, pp. 369-387

Progressive policy proposals influenced by post-Keynesian economics emphasise the use of fiscal policy and income redistribution to maintain aggregate demand at levels which achieve full employment. Given persistent evidence of weak demand, excess capacity and unemployment in rich economies...

Persistent link: https://www.econbiz.de/10014433736

A global race to the bottom : the neo-Goodwinian aggregative-systems estimation of income distribution and capacity utilization interactions

Vechsuruck, Tanadej - In: PSL quarterly review 77 (2024) 308, pp. 59-87

The neoliberal reforms since the 1980s have resulted in rapid globalization paralleled by worsening income distribution. In this paper, I first show that most countries worldwide (58 of 81) have experienced a decline in the labor share of income, or the wage share, during 1950-2019. Second, I...

Persistent link: https://www.econbiz.de/10014550882

Varieties of demand and growth regimes : post-Keynesian foundations

Hein, Eckhard - In: European journal of economics and economic policies : … 20 (2023) 3, pp. 410-443

We review post-Keynesian contributions to demand and growth regime analysis. First, for the theoretical model perspective, we distinguish the Kalecki-Steindl approach and the Sraffian supermultiplier approach as relevant theoretical foundations for demand and growth regime research, with...

Persistent link: https://www.econbiz.de/10014516079

The trade-off between inflation and unemployment in an "MMT world" : an open-economy perspective

Carnevali, Emilio; Deleidi, Matteo - In: European journal of economics and economic policies : … 20 (2023) 1, pp. 90-124

This paper is focused on modern monetary theory's (MMT) treatment of inflation from an open-economy perspective. It … vision. However, it also makes use of a stock-flow consistent open-economy model to underline some limits of the theory when …

Persistent link: https://www.econbiz.de/10014433719

Regional monetary policy

Rodríguez Fuentes, Carlos J. - 2006

framework built upon the basic principle of the Post-Keynsian monetary theory which enables the identification of a new way for …

Persistent link: https://www.econbiz.de/10012623696