This article explores the Marxian roots of the multiplier in order to clarify its foundations and validity conditions. The authors argue that from Marx’s analysis of the evolution of institutions and technology of exchange crucial insights may be derived. In the light of this analysis Kalecki...

We examine the role of expectations in a model aimed to explain financial fluctuations. The model restates the core of Minsky’s financial instability hypothesis, focusing on the role of expectations. The hypotheses concerning the process of formation and revision of expectations are discussed...

This paper explores the Marxian genetic root of the multiplier in order to clarify its foundations and validity conditions. Though the analysis is restricted to the first two volumes of Capital and the early contributions by Kalecki in the 1930s, we argue that we can draw from these works...

Contrary to the near global consensus among the scientific community, public perceptions of climate change are known to differ between nations and to have fluctuated over time. To study such a stylised fact, this article develops a small-scale agent-based model that allows for feedback effects...