The Economics of Demand-Led Growth is a collection of specially written essays that develop and apply the theory of demand-led growth. Long-run growth is usually portrayed as a supply-determined process. The contributions to this volume, however, are rooted in the theory of demand-led growth. In...

This vital new Handbook is an authoritative volume presenting key issues in finance that have been widely discussed in the financial markets but have been neglected in textbooks and the usual compilations of conventional academic wisdom.

This article provides evidence in support of cointegration among the UK money supply, real output and the price level in the gold standard period, 1871-1913. The series respond to eliminate short run deviations from the long run equilibrium relation of the equation of exchange. Cointegration is...

This paper explores the differences between the investment theories of Michal Kalecki and John Maynard Keynes. We argue that Kalecki's ideas (and empirical support for them) are necessary for Keynes's arguments regarding the determination of the level of effective demand. Kalecki's theory of the...

The economics of Kalecki and of the New Keynesianism exhibit remarkable parallels. The major doctrine they have in common is that of business net worth, or equity, as the major determinant of business expansion. The New Keynesians arrive at their understanding of this point by reasoning from...