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Economia sintetica
Vildosola, Luis - EconWPA - 1998
Theoretical study identifying one modality with conditions necesary for the financial stabilization of an inherently unstable system; and 5040 other unstable dynamic modes. It draws on knowledge made available by the academic field of Control Engineering.
Persistent link: https://www.econbiz.de/10005125628
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Gibson’s Paradox, Monetary Policy, and the Emergence of Cycles
Hannsgen, Greg - EconWPA - 2004
Many empirical studies have found that interest rate increases have a positive effect on the price level. This paper pursues an obvious, but neglected explanation: interest payments are a cost of production that is at least in part passed on to customers. A model shows that the cost- push effect...
Persistent link: https://www.econbiz.de/10005412732
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KALECKI'S THEORY OF INCOME DETERMINATION: A RECONSTRUCTION AND AN ASSESSMENT
Chilosi, Alberto - EconWPA - 2003
The paper considers the legacy for modern macroeconomics of Kalecki’s theory of income determination. The latter is reconstructed in its analytical constituent parts referring in detail to the original sources. The critical appraisal of its historical relevance is made from the vantage point...
Persistent link: https://www.econbiz.de/10005126093
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Interest, debt and capital accumulation - a Kaleckian approach
Hein, Eckhard - EconWPA - 2005
In the present paper we explicitly introduce interest payments and debt into a Kaleckian distribution and growth model with an investment function very close to Kalecki’s original writings. The effects of interest rate variations on the short-run equilibrium values of capacity utilisation,...
Persistent link: https://www.econbiz.de/10005126210
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Interest rate, debt, distribution and capital accumulation in a post-Kaleckian model
Hein, Eckhard - EconWPA - 2004
The introduction of monetary variables into post-Keynesian models of distribution and growth is an ongoing process. Lavoie (1995) has proposed a Kaleckian ‘Minsky-Steindl-model’ of distribution and growth, incorporating the effects debt and debt services have on short and long run capital...
Persistent link: https://www.econbiz.de/10005412605
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A Simplified Stock-Flow Consistent Post-Keynesian Growth Model
Santos, Claudio Dos; Zezza, Gennaro - EconWPA - 2005
A Simplified Stock-Flow Consistent Post-Keynesian Growth Model Claudio H. Dos Santos* and Gennaro Zezza** Abstract: Despite being arguably the most rigorous form of structuralist/post-Keynesian macroeconomics, stock-flow consistent models are quite often complex and difficult to deal with. This...
Persistent link: https://www.econbiz.de/10005561295
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Keynes’ Metaphor of the Newspaper Competition: A Model
Sanyal, Amal - EconWPA - 2005
Keynes’ General Theory provides an interesting metaphor for asset markets: they are like newspaper competitions where … closest to the average preferences. Keynes did not explicitly formalise the metaphor but his observations about the bond … of decision rules from the suggestions in the General Theory and Keynes' QJE(1937) paper, and introduces a concept of …
Persistent link: https://www.econbiz.de/10005126429
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Equality of Demand and Supply Neither Determines Price Nor Clears the Market
Gani, Mohammad - EconWPA - 2004
The belief that equality of demand and supply determines price and clears the market is universal. Shockingly, this belief is unfounded. It contradicts macro’s claim that equality of demand and supply determines output. It contradicts (new) monetary theory, which claims that equality of demand...
Persistent link: https://www.econbiz.de/10005413280
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The Varieties of Subjectivism: Keynes and Hayek on Expectations
Butos, William N.; Koppl, Roger G. - EconWPA - 1995
J.M. Keynes and F.A. Hayek had different economic ideas even though both were subjectivists seriously engaged with … between their philosophical ideas. Keynes was a Cartesian rationalist and justificationist; Hayek a critical rationalist and … non-justificationist. We draw on Keynes's "A Treatise on Probability," Hayek's "The Sensory Order," and other works to …
Persistent link: https://www.econbiz.de/10005076652
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Financial Liberalization Era in Turkey: Critique on Decree No.32
Koska, Onur - EconWPA - 2005
“Financial Liberalization” winds had blown for 1980s’ Turkey, affected from developed nations, resulted from the efforts of keeping in step with world trend, and hence the law that had been put into practice in 1989, “decree no.32”, had not only affected its era, also had left...
Persistent link: https://www.econbiz.de/10005076682