Showing 1 - 10 of 624
This is a theoretical analysis of structural interdependence in monetary economics. Some recent attempts to integrate …
Persistent link: https://www.econbiz.de/10011185688
A graph representation of the financial relations in a given monetary structure is proposed. It is argued that the graph of debt-liability relations is naturally organized and simplified into a tree structure, around banks and a central bank. Indeed, this optimal graph allows to perform payments...
Persistent link: https://www.econbiz.de/10011262872
According to neoclassical economic theory, there is a negative relationship between real wages, and the level of output and employment. Therefore, neoclassical theory tends to favor policy measures that seek to diminish real wages and deregulate the labor market, explaining that poor economic...
Persistent link: https://www.econbiz.de/10011259796
Economics Society in Vancouver. It assesses the challenge presented by temporal analysis to both neoclassical orthodoxy and … economics and offers a rigorous foundation for political economy as a whole. It has met powerful resistance. The conclusion …
Persistent link: https://www.econbiz.de/10005621983
modern economics, which has focussed on equilibrium as the de facto defining principle from which value may be deduced. The …
Persistent link: https://www.econbiz.de/10005789658
between Marx’s economics and post-Keynesian approaches in the field of money, credit and the rate of interest. Starting from … Marx’s economics cannot only be seen as one of the sources of post-Keynesian economics because his theory of capitalist … reproduction has had a major impact on Kalecki’s theory of effective demand, but also because his monetary economics fit quite well …
Persistent link: https://www.econbiz.de/10008574607
Following Lavoie et al. (2004), this paper empirically assesses four investment functions closing the Kaleckian baseline model in the long-run: (a) the Naive-Kaleckian specification without any long-run adjustment; (b) the Intermediate-Kaleckian specification with an endogenous adjustment of the...
Persistent link: https://www.econbiz.de/10008871183
Recent Post-Keynesian proposals for an economic policy to overcome stagnation and mass unemployment also stress the necessity of incomes policy without precisely specifying the role of such a policy. Starting from the theories of distribution by Kalecki and Kaldor this paper therefore tries to...
Persistent link: https://www.econbiz.de/10008587489
The present study applies purpose-built dynamic computable general equilibrium models for Ghana and Kenya with a disaggregated country-specific representation of the power sector to simulate the prospective medium-run growth and distributional implications associated with a shift towards a...
Persistent link: https://www.econbiz.de/10012894601
Models in macroeconomic sciences are designed with the aim of understanding and then simulating the real world economic and monetary policy making. There has been a considerable debate over how to model the real world economic phenomena, and how correctly those models allow explanations of...
Persistent link: https://www.econbiz.de/10011113664