Results 101 to 110 of about 84,720 (263)

Probability and uncertainty in Keynes's The General Theory [PDF]

, 2003
Book description: John Maynard Keynes is undoubtedly the most influential Western economist of the twentieth century. His emphasis on the nature and role of uncertainty in economic thought is a dominant theme in his writings. This book brings together a
Gillies, D.
core  

Luigi Pasinetti and Adolph Lowe: Bridging Capital Theory and Institutional Analysis

Metroeconomica, EarlyView.
ABSTRACT This article examines the convergence of Luigi Pasinetti's and Adolph Lowe's political economy, linking capital theory, institutions, and normative methodology. Pasinetti's two‐stage approach and Lowe's instrumental method share a common emphasis on the structural requirements and institutional arrangements for attaining and maintaining full ...
Michael J. Murray
wiley   +1 more source

New Classical and New Keynesian models of business cycles [PDF]

A presentation of simple, but complete, New Classical and New Keynesian models of the economy and business cycles that illustrate the central force behind fluctuations in each.
Eric Kades
core  

Output Gap Uncertainty, Sovereign Risk Premia and the Contingent Importance of the Bond Vigilantes

Metroeconomica, EarlyView.
ABSTRACT This paper investigates the implications of output gap uncertainty for the conduct of fiscal policy using a small‐scale macroeconomic model with boundedly rational agents. Specifically, agents use an adaptive updating mechanism to approximate the unobservable potential output that suffers, similarly to the Hodrick and Prescott (1997) filter ...
Christian R. Proaño, Jonas Dix
wiley   +1 more source

Pseudo, or Not? Neo‐Goodwinian Growth Cycles With Financial Linkages

Metroeconomica, EarlyView.
ABSTRACT A profit‐led Goodwin mechanism generates the observed counterclockwise activity–labor share cycle. Introducing a financial linkage can reproduce this pattern even when demand is not profit‐led. This paper extends neo‐Goodwinian theory by incorporating the valuation ratio into a four‐dimensional model.
Rudiger von Arnim, Luis Felipe Eick
wiley   +1 more source

Tax Progressivity, Public Debt, and Growth in a Neo‐Kaleckian Model

Metroeconomica, EarlyView.
ABSTRACT We develop a neo‐Kaleckian growth‐and‐distribution model featuring two classes of workers and a progressive income tax. Two fiscal closures are considered: balanced budgets and deficit financing via public debt. We study the responses to shocks, including changes in functional income distribution, and assess how tax progressivity alters demand
Tailiny Ventura, Fabrício J. Missio, Júlio Fernando Costa Santos   +2 more
wiley   +1 more source

Racial Inequality, Growth and Distribution

Metroeconomica, EarlyView.
ABSTRACT A post‐Keynesian‐Kaleckian model along structuralist lines is developed to incorporate the issue of racial inequality into the analysis of growth and distribution. It draws on ideas presented in the literature about the relationship between class inequality between capitalists and workers, and racial inequality between White and Black workers,
Amitava Krishna Dutt
wiley   +1 more source

Accumulation, distribution and employment: a structural VAR approach to a post-Keynesian macro model [PDF]

The paper investigates the relation between effective demand, income distribution and unemployment empirically. Its aim is to evaluate Keynesian, Kaldorian and neoclassical hypotheses about the determination of labor market variables.
Engelbert Stockhammer, Özlem Onaran
core  

Contractionary Effects of Devaluation and the Balance Sheet Effect in a Macroeconomic Model With Heterogeneous Firms

Metroeconomica, EarlyView.
ABSTRACT We propose a demand‐led heterogeneous firm macroeconomic model to study the impact of an exchange rate devaluation on output and financial stability. We simulate the model and find that, in the presence of foreign debt, a devaluation can have contractionary effects.
Lucca Gustafson Rodrigues, Lílian Rolim, Laura Carvalho   +2 more
wiley   +1 more source

Philosophy of economics: the analysis of alternative directions

Studia Humanitatis
Alternative directions in modern economic theory assume philosophical justification. The paper provides methodological analysis of the following alternative directions in economics: the new Austrian school, modern institutionalism, radical political ...
Gerashchenko Igor Germanovich
doaj