In this paper the main developments in post-Keynesian macroeconomics since the mid-1990s will be reviewed. For this purpose the main differences between heterodox economics in general, including post-Keynesian economics, and orthodox economics will be reiterated and an overview over the strands...

Empirically, the macroeconomic institutions and the macroeconomic policy approach in the Eurozone have failed badly, both in terms of preventing the global financial and economic cri-sis from becoming a euro crisis and in generating a rapid recovery from the crisis, in particular. In this paper...

The notion of dynamic instability of demand driven growth put forward by Harrod (1939) has triggered several responses in the history of economic thought. The modern Kaleckian solution, including Bhaduri/Marglin (1990) among several others, considers the rate of capacity utilisation to be...

In this paper we discuss the relationship between the current account rebalancing in the Eu-rozone, income distribution and wage policies with a focus on the main surplus economy, Germany. We will illustrate how and to which extent German wage policies could be able to contribute to a more...

Recently, several interesting attempts have been made at connecting comparative political economy (CPE) approaches, as the Varieties of Capitalism (VoC) theory, with post-Keynesian (PK) research on different demand-led growth regimes in modern capitalism, and for the period of finance-dominated...

Sraffian supermultiplier models, as well as Kaleckian distribution and growth models making use of non-capacity creating autonomous demand growth in order to cope with Harrodian instability, have paid little attention to the financial side of autonomous demand growth as the driver of the system....

This article brings together the varieties of capitalism and the growth model approaches to comparative political economy to analyze the macroeconomic implications of changes in income distribution. In the decades before the financial crisis, coordinated market economies (CMEs) and liberal...

In this paper, we revisit the macroeconomic foundations and political economy of national growth models. We challenge the Kaleckian framework underpinning the emergent growth model literature in comparative political economy, which focuses primarily on the functional income distribution (wages...

In this paper, we analyze how corporate sector behavior has affected national current account balances in a sample of 25 countries for the period 1980-2015. A consistent finding is that an increase (decrease) in corporate net lending leads to an increase (decrease) in the current account,...

We ask why working hours in the rich world have not declined more sharply or even risen at times since the early 1980s, despite a steady increase in productivity, and why they vary so much across rich countries. We use an internationally comparable database on working hours (Bick et al., 2019)...