Showing 1 - 10 of 82
gives a partial update on advances in Kalecki-Minsky modelling. First, theoretically, it discusses the notion of pseudo …
Persistent link: https://www.econbiz.de/10014363350
This paper compares Marx's economics with those by Sraffa, Keynes, Kalecki and Minsky. The paper takes an 'ex post … is made to study in a systematic way whether and to what extent Sraffa, Keynes, Kalecki and Minsky were individually … theory of prices and distribution is reviewed. Then the relationship between Marx's and Keynes's monetary theory is examined …
Persistent link: https://www.econbiz.de/10014363354
market mechanisms, and the most profound influence on Łaski, Michał Kalecki. In Kalecki's view, the socialist economy is …. With cost minimisation, markets and prices in socialism, if left to themselves, generate similar deflationary tendencies to …
Persistent link: https://www.econbiz.de/10014363360
This paper provides remarks on modern monetary theory (MMT) from a Kaleckian perspective in response to a paper by Drumetz/Pfister. The distinction between initial financing and final financing is drawn up to argue for clear separation of how expenditure is financed and funded, and pointing to...
Persistent link: https://www.econbiz.de/10014441463
The purpose of this paper is to provide an exposition of Veblen's and Minsky's views on the financial markets and to … system became integrated with Minsky's financial processes of creation and destruction, it could set up a realistic framework …
Persistent link: https://www.econbiz.de/10014363161
based on Keynes's asset choice model within the context of Minsky's cycle and the Institutionalist approach of Veblen …
Persistent link: https://www.econbiz.de/10014363165
Instability Hypothesis by Hyman Minsky, the theory of Capital Market Inflation by Jan Toporowski, and the post …
Persistent link: https://www.econbiz.de/10014363226
This paper intends to contribute to the contemporary discussions about Minsky's economics by reviewing how the key … ideas of Minsky have been formalised in the heterodox literature over the last three decades or so. First, a distinction is …. Second, the key lessons learned from modelling Minsky are outlined. Finally, the paper calls for more empirically driven …
Persistent link: https://www.econbiz.de/10014363295
This paper deals with the relationship between post-Keynesian and behavioural economics. I begin by responding critically to Paul Davidson's claim that Keynes was the first behavioural economist. Then I discuss some recent work in behavioural macroeconomics, which reveals some important...
Persistent link: https://www.econbiz.de/10014363177
This paper argues that the natural rate of unemployment hypothesis, in which equilibrium unemployment is determined by 'structural' variables alone, is wrong: it is both implausible and inconsistent with the evidence. Instead, equilibrium unemployment is haunted by hysteresis. The curious...
Persistent link: https://www.econbiz.de/10014363204