Showing 1 - 10 of 10
Primary commodities still account for the bulk of exports in many developing countries. However, real commodity prices have been declining almost continuously since the early 1980s. The appropriate policy response to a terms of trade shock depends importantly on whether the shock is perceived to...
Persistent link: https://www.econbiz.de/10005835911
In this paper the euro crisis is viewed as the most recent episode of the crisis of finance-dominated capitalism. Therefore, two major features of finance-dominated capitalism, the increasing inequality of income distribution and the rising imbalances of current accounts, are analysed for a set...
Persistent link: https://www.econbiz.de/10009397198
-)Keynesian analysis is presented as a growth and employment-oriented alternative to this restrictive policy mix. Contrary to the strict … alternative requires the coordination of monetary, fiscal and wage policies in order to achieve growth, high employment and price …
Persistent link: https://www.econbiz.de/10009327899
concept of money and their satisfaction may be largely endogenous to shifts in the economic policy regime. Growth and …, in this paper the effects of the new EMU institutional framework for monetary, fiscal and wage policies on overall growth … has neither been conducive to aggregate growth nor to real convergence across the euro area. In order to improve growth …
Persistent link: https://www.econbiz.de/10009327917
growth and employment problems in the EU. These guidelines have been the EU-economic policy concept for ten years now, but … this concept has not been able to generate sustained growth in the EU. Examining the guidelines we show the weaknesses of … the economic policy model behind it and outline an alternative concept which promises more growth for Europe in the long …
Persistent link: https://www.econbiz.de/10009327942
We analyse the long-run imbalances of finance-dominated capitalism underlying the present crisis – which began in 2007 – with a focus on developments in the US and Germany. We argue that beyond inefficient regulation of the financial sector, the severeness of the present crisis has been...
Persistent link: https://www.econbiz.de/10008592982
In a Kaleckian distribution and growth model with workers’ debt we examine the short- and long-run effects of three …
Persistent link: https://www.econbiz.de/10009325648
In our recent paper, (Reinhart and Reinhart, 2010) we examine the behavior of real GDP (levels and growth rates … growth is notably slower in the decade following a macroeconomic disruption. We extend those results to provide evidence of …
Persistent link: https://www.econbiz.de/10008642684
In a recent paper, we studied economic growth and inflation at different levels of government and external debt. The … States), debt-growth causality (our book emphasizes the bi-directional nature of the relationship), as well as nonlinearities … in the debt-growth connection and thresholds evident in the data (absolutely central points that seem to have been lost …
Persistent link: https://www.econbiz.de/10008490100
Using annual data for Colombia over the last 30 years, we test competing theories that explain macroeconomic fluctuations: the neoclassical synthesis, which posits that in the presence of temporary price rigidity, an unanticipated monetary expansion produces output gains that erode over time...
Persistent link: https://www.econbiz.de/10005621206