The wage led aggregate demand hypothesis is examined for the United Kingdom over the period 1971 - 2007. Existing studies disagree on the aggregate demand regime for the UK, and this appears to be due to differing empirical approaches. Studies relying on equation-by-equation estimation...

Before becoming the hallmark of macroeconomics à la Wynne Godley, the ‘stock-flow’ analysis was already developed in microeconomics and general equilibrium theory. Basically, the goal was to study the formation of economic plans and the determination of market prices when individuals were...

Before becoming the hallmark of macroeconomics à la Wynne Godley, the ‘stock-flow’ analysis was already developed in microeconomics and general equilibrium theory. Basically, the goal was to study the formation of economic plans and the determination of market prices when individuals were...

Before becoming the hallmark of macroeconomics à la Wynne Godley, the ‘stock-flow’ analysis was already developed in microeconomics and general equilibrium theory. Basically, the goal was to study the formation of economic plans and the determination of market prices when individuals were...

Recent economic crisis started from the American Housing. In 2005, the price of housing started to grow and for gaining more profit, the banks inclined to housing and provided applicants with lots of facilities. With the burst of price bubbles, intense reduction of prices occurred in the housing...

Recent economic crisis started from the American Housing. In 2005, the price of housing started to grow and for gaining more profit, the banks inclined to housing and provided applicants with lots of facilities. With the burst of price bubbles, intense reduction of prices occurred in the housing...

Recent economic crisis started from the American Housing. In 2005, the price of housing started to grow and for gaining more profit, the banks inclined to housing and provided applicants with lots of facilities. With the burst of price bubbles, intense reduction of prices occurred in the housing...

This paper is not intended to assess and to examine fiscal policies carried out by the fiscal authorities of any country, including the Indonesian government, but only to refresh theoretical fiscal policy functions, which are then linked to some facts of their implementation in a number of...

Mainly there exist two competing models to explain the Great Depression in the relevant literature: Monetarist and Keynesian models. Monetarists assert that The Depression resulted from a contraction of the money supply in the early 1930’s. Keynesians, on the other hand, argue that The...

This paper discusses the hypothesis of secular stagnation. Firstly, the debate on stagnation, from Alvin Hansen (1938) to Marxists and more recent interpretations is illustrated. Then, the demographic and macroeconomic trends of Italy, Japan and the United States are examined in relationship...