Books reviewed: Jonathan P. Goldstein/Michael G. Hillard (eds.) (2009): Heterodox Macroeconomics: Keynes, Marx and Globalization, London Mathew Forstater/L. Randall Wray (eds.) (2008): Keynes for the Twenty-First Century. The Continuing Relevance of The General Theory, Basingstoke L. Randall...

Books reviewed: Julio Lopez G., Michael Assous (2010): Michal Kalecki, Basingstoke Alberto Quadrio Curzio, Valeria Miceli (2010): Sovereign Wealth Funds. A Complete Guide to State-Owned Investment Funds, Petersfield Hansjörg Herr, Milka Kazandziska (2011): Macroeconomic Policy Regimes in...

Books reviewed: Schettkat, Ronald/Langkau, Jochem (Hg.) (2007): Aufschwung für Deutschland. Plädoyer international renommierter Ökonomen für eine bessere Wirtschaftspolitik, Bonn Roncaglia, Alessandro/Sylos Labini, Paolo (2008): Geschichte des ökonomischen Denkens. Eine kurze Einführung,...

This paper presents a stock-flow consistent growth model which is set in the Post-Keynesian tradition. A key feature of the model, however, is that real government expenditures grow at a rate which is compatible over the long period with a constant rate of unemployment (at the "natural rate of...

First paragraph: In early August 2009 the 2nd Summer School of the Research Network Macroeconomics and Macroeconomic Policies (FMM) was held in Berlin. As in the previous year, about 50 graduate students, young researchers and senior lecturers from all over the world came together to discuss...

Books reviewed: Robert Leeson (ed.) (2008): The Keynesian Tradition, Basingstoke Robert Leeson (ed.) (2008): The Anti-Keynesian Tradition, Basingstoke Stefan Ederer (2008): Einkommensverteilung und gesamtwirtschaftliche Nachfrage in Österreich und den Niederlanden, Marburg Neva Goodwin/Julie A....

First paragraph: During the recent decades the financial sectors of developed and developing countries as well as global financial relations have changed remarkably. The overall importance of financial factors for real investment and growth of non-financial business has risen, as has the...

Books reviewed: Becker, Joachim/Weissenbacher, Rudy (2007): Dollarization, Euroization and Financial Instability. Central and Eastern European Countries between Stagnation and Financial Crisis?, Marburg Arestis, Philip/Sawyer, Malcolm (eds.) (2006): A Handbook of Alternative Monetary Economics...

First paragraph: The Research Network Macroeconomics and Macroeconomic Policies (FMM) has existed since 1996 as a platform for analysis, research and discussion of macroeconomic issues. It is primarily based in Germany, Austria and Switzerland, but it has established close links to similar...

First paragraph: The world economy is presently suffering from the most severe economic crisis since the Great Depression in the early 1930s. As by now seems to be obvious, the present financial crisis, massive state intervention in the financial markets in order to prevent a melt-down, and...