The relationship between income inequality and economic growth is complex. Some inequality is integral to the effective functioning of a market economy and the incentives needed for investment and growth. But inequality can also be destructive to growth, for example by amplifying the risk of...

This paper investigates the sources of inequality in household gross and net wealth across eight euro area countries applying the Shapley value approach to decomposition. The research draws on micro data from the Eurosystem Household Finance and Consumption Survey 2010. Dispersion in bequests...

The paper provides a framework for theorising the role of house price cycles in national growth models. We synthesise Minskyan approaches with comparative political economy (CPE) by arguing that institutions influence the extent to which countries experience what we call 'house-price-driven...

This paper aims to contribute to the debate of post-Keynesian growth models and the political economy of populism by investigating the relationship between the changes in demand and growth regimes and the politics of the right-wing populist governments in Poland and Hungary after the Global...

The growth model perspective has provided avenues for bridging comparative and international political economy, mainly regarding the Global Financial Crisis and developments within the eurozone. This article aims to contribute to this endeavor by highlighting the joint effects of capital flows...

In this paper, we analyse the demand-led determinants of Spanish economic growth from 1998-2019. We apply the supermultiplier demand-led growth accounting methodology by with two modifications: First, we incorporate consumption out of public transfers, following and . Second, we incorporate...

Economists have long debated whether the real exchange rate (RER) has a significant impact on export performance and output growth. Some claim that export performance depends only on nonprice competition and the RER is irrelevant to long-run growth, whereas others argue that the RER is a key...

Reinhart/Rogoff (2010) and Reinhart et al. (2012) document a negative relationship between public debt and economic growth. However, by classifying the observations of their data set into public debt categories and identifying public debt overhang episodes, they focus only on 'one half' of the...

Economic inequality has traditionally not been the center of mainstream macroeconomic thought. Rethinking whether and how today's high economic inequality – along all axes, not just income – affects economic growth and stability is an increasingly relevant and important field of inquiry....

This paper aims to show that the Sraffian supermultiplier model provides an alternative closure for the heterodox analysis of economic growth. The new closure follows from the assumption of the existence of autonomous non-capacity-creating expenditures, which implies that the ratio of the...