Results 61 to 70 of about 84,720 (263)

Revisiting the EU's Democratic Deficit: Archival Insights From Maximalist Federalists

JCMS: Journal of Common Market Studies, EarlyView.
Abstract This article explores the history of democratic problematisation of European integration, rather than taking part in the normative debate on the European Union's democratic legitimacy deficit that emerged in the 1990s. We focus on the narratives of non‐institutional actors who have considered that European integration should be a democratic ...
Jessy Bailly
wiley   +1 more source

Political Economy and Economic Science: The Work of Phyllis Deane [PDF]

Some time ago, Phyllis Deane pointed to “an inescapable tension between political economy and economic science”. Yet, the separation of positive economics (pure and empirical) on the one hand and normative economics (pure and applied) on the other is ...
Heinrich Bortis
core  

The role of the “liquidity trap” in Keynesian economics

PSL Quarterly Review, 2013
Recent discussions in the literature have once again raised the question as to whether the “liquidity trap” plays a crucial role in Keynesian economics. This work first discusses the analytical aspects of this question.
D. PATINKIN
doaj   +1 more source

New Keynesian economics : a monetary perspective [PDF]

In this article we construct a simple analytically tractable model to explore and evaluate New Keynesian ideas. First, we show that a New Keynesian model need not exhibit Phillips curve correlations in the absence of strategic price setting by firms ...
Stephen D. Williamson
core  

Revival of classical political economy: An exposition [PDF]

, 1996
The purpose of this paper is twofold: first, to discuss the theoretical foundations and policy implications of two of the offshoots of modern macroeconomics viz., supply-side economics and rational expectations; and second to evaluate the recent ...
Hans, V. Basil
core  

Financial Fragility and the Fiscal Multiplier

Journal of Money, Credit and Banking, EarlyView.
Abstract We show that undercapitalized banks with large holdings of government bonds subject to sovereign default risk lead to a new crowding‐out channel: deficit‐financed fiscal stimuli lead to higher bond yields, triggering capital losses for the banks. Banks then cut back loans, which reduces fiscal multipliers.
CHRISTIAAN VAN DER KWAAK, SWEDER VAN WIJNBERGEN   +1 more
wiley   +1 more source

Income distribution in a monetary economy

PSL Quarterly Review, 2013
In a monetary economy capital is a fund. This idea is captured by the circuit of capital. We define a circuit for fixed capital and argue that it is closed when the fund that initiates it is recovered in a present value sense.
Nazim Kadri Ekinci
doaj  

Worker Savings, Foreign Investment and Capital Market Development: An Assessment of the Polish Government’s Action Plan from a Post-Keynesian Perspective

Gospodarka Narodowa. The Polish Journal of Economics, 2017
In February 2016, the Polish government adopted an Action Plan for Responsible Development and in July it came up with a draft Strategy for Responsible Development that was finally approved in February 2017.
Maciej Holko
doaj   +1 more source

Behavioral Macroeconomics and the New Keynesian Model [PDF]

The contribution of this paper is twofold. First, a thorough presentation of the state of the art of the New Keynesian Macroeconomic model is provided.
Jan-Oliver Menz
core  

Monetary Policy When Preferences Are Quasi‐Hyperbolic

Journal of Money, Credit and Banking, EarlyView.
Abstract We study discretionary monetary policy in an economy where economic agents have quasi‐hyperbolic discounting. We demonstrate that a benevolent central bank is able to keep inflation under control for a wide range of discount factors. If the central bank, however, does not adopt the household's time preferences and tries to discourage early ...
RICHARD DENNIS, OLEG KIRSANOV
wiley   +1 more source