"The Dismal State of Macroeconomics and the Opportunity for a New Beginning" [PDF]
The Queen of England famously asked her economic advisers why none of them had seen "it" (the global financial crisis) coming. Obviously, the answer is complex, but it must include reference to the evolution of macroeconomic theory over the postwar ...
L. Randall Wray
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The elusive welfare economics of price stability as a monetary policy objective: why New Keynesian central bankers should validate core inflation [PDF]
The paper studies the inflation rate associated with optimal monetary and fiscal policy in a number of standard dynamic stochastic general equilibrium models with nominal price rigidities.
Buiter, Willem H.
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The symmetric and asymmetric impacts of external debt on economic growth in Tunisia: evidence from linear and nonlinear ARDL models. [PDF]
SN Bus Econ, 2023 Aloulou R, Kalai M, Helali K.
europepmc +1 more source
Estimating a small DSGE model under rational and measured expectations: some comparisons [PDF]
Using European panel data and GMM system estimation, we explore the empirical performance of the standard three-equation New Keynesian macro model under different informational assumptions.
Paloviita, Maritta
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Towards an institutional "landscape" view of modern money creation mechanisms and some reflections on their ecological significance. [PDF]
Sustain Sci, 2023 Hook A.
europepmc +1 more source
What kind of innovation state matters for social justice? Learning from Poulantzas and going beyond. [PDF]
Rev Evol Polit Econ, 2023 Papaioannou T.
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Comparing alternative Phillips curve specifications: European results with survey-based expectations [PDF]
This paper examines inflation dynamics in Europe. Econometric specification tests with pooled European data are used to compare the empirical performance of the New Classical, New Keynesian and Hybrid specifications of the Phillips curve.
Paloviita , Maritta
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On the Low Degree of Entropy Implied by the Solutions of Modern Macroeconomic Models. [PDF]
Entropy (Basel), 2022 Nymoen R.
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The concept of degrees of uncertainty in Keynes, Shackle and Davidson [PDF]
The aim of the paper is to discuss and define a concept of Keynesian uncertainty capable of both to comprehend the concept of probable knowledge and admit the existence of degrees of uncertainty.
Marco Crocco
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Can money supply endogeneity influence bank stock returns? A case study of South Asian economies. [PDF]
Environ Dev Sustain, 2022 Liu L +6 more
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