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A post-Kaleckian econometric analysis of interest rates, income distribution, capacity utilization, accumulation and profit rates: the case of Italy
Kurt, Ozan Ekin - In: European Journal of Economics and Economic Policies: … 21 (2024) 3, pp. 416-439
functional distribution of income. Interest rates directly and indirectly affect the equilibrium rates of capacity utilization …
Persistent link: https://www.econbiz.de/10015165901
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Income distribution, the Great Depression, and the relative income hypothesis
Belabed, Christian A. - In: European Journal of Economics and Economic Policies: … 15 (2018) 1, pp. 47-70
This paper discusses the rise of top-end inequality and its effects on household consumption, saving, and debt in the United States during the 1920s by applying a non-standard theory of consumption, the relative income hypothesis, to the period of interest. Analysing the relevant data...
Persistent link: https://www.econbiz.de/10014363311
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A theory of aggregate consumption
Kim, Yun K.; Setterfield, Mark; Mei, Yuan - In: European Journal of Economics and Economic Policies: … 11 (2014) 1, pp. 31-49
We develop a Keynesian model of aggregate consumption. Our theory emphasizes the importance of the relative income hypothesis and debt finance for understanding household consumption behavior. It is shown that particular importance attaches to how net debtor households service their debts, and...
Persistent link: https://www.econbiz.de/10014363194
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Secular stagnation and progressive economic policy alternatives
Onaran, Özlem - In: European Journal of Economics and Economic Policies: … 13 (2016) 2, pp. 229-240
financialization, income distribution, accumulation and productivity. First, at the core of secular stagnation lies the missing link … link and hence the major brakes against capital accumulation and growth. The paper concludes with alternative progressive …
Persistent link: https://www.econbiz.de/10014363268
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Testing the Bhaduri-Marglin model for the demand regime of Greece
Marsellou, Emilia G. - In: European Journal of Economics and Economic Policies: … 21 (2024) 3, pp. 370-395
This paper investigates the demand regime of the Greek economy for the period 1960-2017, using a Bhaduri/Marglin (1990) type macroeconomic demand-led model and applying the empirical methodology developed in Stockhammer et al. (2009). The analysis finds that Greece is another European economy...
Persistent link: https://www.econbiz.de/10015166037
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The COVID-19 crisis and counter-cyclical policies in Brazil
Tavani, Daniele - In: European Journal of Economics and Economic Policies: … 18 (2021) 2, pp. 198-206
and declining productivity growth that the US economy has seen over the last few decades. …
Persistent link: https://www.econbiz.de/10014363416
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Financialisation and financial crisis in Iceland
Guðmundsson, Björn Rúnar - In: European Journal of Economics and Economic Policies: … 13 (2016) 3, pp. 292-322
, the rise in financial activity has had profound effects on income distribution and corporate and household behaviour …. Following the 2008 financial meltdown, which was triggered by excessive growth of the financial sector, financialisation in … Iceland has reversed to a degree, allowing for a shift away from financial-led towards increasingly export-led growth. …
Persistent link: https://www.econbiz.de/10014363274
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From abstract to concrete: some tips for developing an empirical stock–flow consistent model
Passarella, Marco Veronese - In: European Journal of Economics and Economic Policies: … 16 (2019) 1, pp. 55-93
The main purpose of this paper is to show how a simple (medium-scale) empirical stock–flow consistent dynamic model can be developed from scratch. Eurostat data and conventional statistical packages (notably EViews, Excel and R) are used. On the theoretical side, the work builds upon the...
Persistent link: https://www.econbiz.de/10014363343
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Pro-shareholder income distribution, debt accumulation, and cyclical fluctuations in a post-Keynesian model with labor supply constraints
Sasaki, Hiroaki; Fujita, Shinya - In: European Journal of Economics and Economic Policies: … 11 (2014) 1, pp. 10-30
In modern capitalist economies, income distribution has a tendency to be in favor of shareholders. This paper … interprets pro-shareholder distribution as a decrease in the retention ratio of firms and an increase in the profit share. We … introduce labor supply constraints into a post-Keynesian growth model with debt accumulation and investigate the effects of …
Persistent link: https://www.econbiz.de/10014363193
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On capital, saving, and investment in the twenty-first century: a reply to Hein
von Weizsäcker, Carl Christian; Krämer, Hagen M. - In: European Journal of Economics and Economic Policies: … 18 (2021) 3, pp. 303-309
With our book Saving and Investment in the Twenty-First Century: The Great Divergence (published as open access), we present a comprehensive theoretical explanation as well as empirical evidence for the phenomenon of low interest rates observed in the OECD countries and China and make various...
Persistent link: https://www.econbiz.de/10014363427