Results 61 to 70 of about 84,779 (287)

Monetary Economics: Post-Keynesian Stock-Flow Consistent Approach (PK-SCF) Versus New-Keynesian Dynamic Stochastic General Equilibrium (NK-DSGE) [PDF]

, 2022
Dushko Josheski, Tatjana Boshkov
openalex   +1 more source

Ecological macroeconomics: a methodological review

Economia e Sociedade
The paper aims to analyse and provide an overview of the emerging ecological macroeconomic approach from a methodological point of view. As with ecological economics, this emerging approach is being constituted by a methodologically plural set of studies.
Beatriz Macchione Saes, Ademar Ribeiro Romeiro   +1 more
doaj   +1 more source

Generalizing Determinacy under Monetary and Fiscal Policy Switches: The Case of the Zero Lower Bound

Journal of Money, Credit and Banking, EarlyView.
Abstract In a fixed‐regime context, it has been established since the work of Leeper (1991) that a determinate and unique equilibrium can be achieved under both monetary dominance (characterized by an active monetary policy and a passive fiscal policy) and fiscal dominance (characterized by an active fiscal policy and a passive monetary policy) regimes
SEONGHOON CHO, ANTONIO MORENO
wiley   +1 more source

A VAR Analysis for the Growth Regime and Demand Formation Patterns of the Japanese Economy

Revue de la Régulation, 2011
This study examines the income distribution and demand formation pattern of the Japanese economy using the VAR model. The post-Keynesian model is used for theoretical reference. The VAR model in this paper includes income distribution, consumption growth
Hiroshi Nishi
doaj   +1 more source

"Financial Markets" [PDF]

This paper provides a brief exposition of financial markets in Post Keynesian economics. Inspired by John Maynard Keynes's path-breaking insights into the role of liquidity and finance in "monetary production economies," Post Keynesian economics offers a
Jorg Bibow
core  

Potential Output Pessimism and Austerity in the European Union

Journal of Money, Credit and Banking, EarlyView.
Abstract The paper develops a business cycle model with policymakers' learning about potential output to analyze the European recession following the Global Financial Crisis. The initial recession led to overpessimism about potential output and cyclically adjusted budget balance (CAB), triggering fiscal austerity. The austerity caused further recession,
PEI KUANG, KAUSHIK MITRA
wiley   +1 more source

Aggregate Demand and Supply [PDF]

This paper is part of a broader project that provides a microfoundation to the General Theory of J.M. Keynes. I call this project 'old Keynesian economics' to distinguish it from new-Keynesian economics, a theory that is based on the idea that to make ...
Roger E. A. Farmer
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

Growth, the Environment and Keynes: Reflections on Two Heterodox Schools of Thought [PDF]

This paper explores the approach of Post Keynesian Economics (PKE) in comparison with ecological economics. While PKE, like all macroeconomics, has failed to address environmental problems it does have many aspects which make compatibility with ...
Clive L Spash, Heinz Schandl
core  

Interest Rate Pegs and the Reversal Puzzle: On the Role of Anticipation

Journal of Money, Credit and Banking, EarlyView.
Abstract We revisit the reversal puzzle: a counterintuitive contraction of inflation in response to an interest rate peg. We show that its occurrence is intimately related to the degree of agents' anticipation. If agents perfectly anticipate the peg, reversals occur depending on the duration of the peg.
RAFAEL GERKE, SEBASTIAN GIESEN, DANIEL KIENZLER   +2 more
wiley   +1 more source