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Inequality, the financial crisis and stagnation : competing stories and why they matter

Palley, Thomas - 2015

This paper examines several mainstream explanations of the financial crisis and stagnation and the role they attribute … financial crisis and stagnation, making it critical we get the story right. … Stagnation sowie die Rolle, die sie der Einkommensungleichheit zuschreiben. Diesen Erklärungen wird eine strukturelle …

Persistent link: https://www.econbiz.de/10010526792

Desigualdad, Crisis Financiera Y Estancamiento : Historias Alternativas Y Por Qué Importan (Inequality, the Financial Crisis and Stagnation: Competing Stories and Why They Matter)

Palley, Thomas - 2016

English Abstract: This paper examines some conventional explanations of the financial crisis and stagnation, and the … shapes policy. And this necessarily applies to the issue of income inequality, the financial crisis and stagnation …

Persistent link: https://www.econbiz.de/10012988449

Inequality and stagnation by policy design : mainstream denialism and its dengerous political consequences

Palley, Thomas - 2019

stagnation that attribute those events to the policies recommended and justified by the profession. Such theories are … legitimize those theories. That resistance has contributed to blocking the politics and policies needed to address stagnation …

Persistent link: https://www.econbiz.de/10011979232

Money, fiscal policy, and interest rates : a critique of modern monetary theory

Palley, Thomas - 2013

This paper excavates the set of ideas known as modern monetary theory (MMT). The principal conclusion is that the macroeconomics of MMT is a restatement of elementary well-understood Keynesian macroeconomics. There is nothing new in MMT's construction of monetary macroeconomics that warrants the...

Persistent link: https://www.econbiz.de/10009746988

The critics of modern money theory (MMT) are right

Palley, Thomas - 2014

Eric Tymoigne and Randall Wray's (T&W, 2013) defense of MMT leaves the MMT emperor even more naked than before (excuse the Yogi Berra-ism). The criticism of MMT is not that it has produced nothing new. The criticism is that MMT is a mix of old and new, the old is correct and well understood,...

Persistent link: https://www.econbiz.de/10010349920

A Post Keynesian Review of Modern Monetary Theory

Túñez Area, Narciso - 2020

Modern Monetary Theory has lately received much attention but also a fair amount of criticisms. The intention of this paper is to review the main arguments in contention to assess the validity of the arguments put forward and the limitations of its policies. Modern Monetary Theory questions...

Persistent link: https://www.econbiz.de/10012837299

Inequality, the financial crisis and stagnation : competing stories and why they matter

Palley, Thomas - In: Revista de economía institucional 18 (2016) 1, pp. 45-68

Persistent link: https://www.econbiz.de/10011649264

Zero lower bound (ZLB) economics : the fallacy of New Keynesian explanations of stagnation

Palley, Thomas - 2016 - Revised January 2016

This paper explores zero lower bound (ZLB) economics. The ZLB is widely invoked to explain stagnation and it fits with …

Persistent link: https://www.econbiz.de/10011433395

The fallacy of the natural rate of interest and zero lower bound economics

Palley, Thomas - 2018

stagnation. ZLB economics is an extension of pre-Keynesian economics which attributes macroeconomic dysfunction to rigidities and …

Persistent link: https://www.econbiz.de/10011944630

An agent-based model for secular stagnation in the USA: theory and empirical evidence

Borsato, Andrea - 2021

The paper extends the research started with Borsato (2020). I develop an agent-based, stock-flow consistent growth model to analyze the interplay between income distribution, innovation and productivity growth. Results still show that the mounting shrinkage of the labour share impacts negatively...

Persistent link: https://www.econbiz.de/10012497056