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any signs for a crisis of economics. After a short period of public, political and self-criticism of economics and … distinct economists the dominant crisis narratives brought forward in economic, public and political discourses ignore the role …-making processes is dominant among political and societal influential economists in the post WW II-German-speaking area, persists …
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The current crisis is like an earthquake for the theoretical foundations of economic policies, which have guided governments and central banks for the last few decades. The efficient market hypothesis and its application to labor markets –“natural rate theory”- dominated interpretations of...
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A recent study by Capaldo suggests that TTIP would have seriously negative consequences for trade, growth, income and employment in Europe. It has been given a surprising amount of attention, despite the fact that errs on the extreme side of trade estimates. Such serious flaws, however, beset...
Persistent link: https://www.econbiz.de/10011290806
In his letter to US President Franklin D. Roosevelt Keynes (1933) wrote about "the technique of recovery itself". An increase in output is brought about by an increase in purchasing power, Keynes argues, which can come from three sectors: households, firms and government. Using the IS/MY...
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With the global crisis, the policy stance around the world has been shaken by massive government and central bank efforts to prevent the meltdown of markets, banks, and the economy. Fiscal packages, in varied sizes, have been adopted throughout the world after years of proclaimed fiscal...
Persistent link: https://www.econbiz.de/10008657988
The global financial crisis has lead to a renewed interest in discretionary fiscal stimulus. Advocates of discretionary measures emphasize that government spending can stimulate additional private spending the so-called Keynesian multiplier effect. Thus, we investigate whether the discretionary...
Persistent link: https://www.econbiz.de/10003909359