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Revisiting (and connecting) Marglin-Bhaduri and Minsky: an SFC look at financialization and profit-led growth
dos Santos, Cláudio H.; Silva, Antonio Carlos Macedo e - 2009
Many heterodox strands of thought share both a concern with the study of different phases or growth regimes in the history of capitalism and the use of formal short-run models as an analytical tool. This text suggests that: (1) this strategy is potentially misleading; (2) that the stock-flow...
Persistent link: https://www.econbiz.de/10010276453
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Financialization and the crises of capitalism
Dünhaupt, Petra - 2016
as financialization. Authors working in the heterodox tradition have raised the question whether the changing role of … term financialization and presents some stylized facts which highlight the rise of finance. Then, it proceeds by briefly … Marxian tradition are reviewed which consider financialization as the latest stage of capitalism. They highlight the …
Persistent link: https://www.econbiz.de/10011461711
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In the long run we are all herd: On the nature and outcomes of the beauty contest
Esposito, Lorenzo; Mastromatteo, Giuseppe - 2020
Since the 2008 crisis, the economics literature has shown a renewed interest in Keynes's "beauty contest" (BC) as a fundamental aspect of the functioning of financial markets. We argue that to understand the importance of the BC, psychological and informational factors are of small importance,...
Persistent link: https://www.econbiz.de/10012610200
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Growth drivers in emerging capitalist economies before and after the Global Financial Crisis
Jungmann, Benjamin - 2021
, particularly in terms of their growth models and subordinated financialization. …
Persistent link: https://www.econbiz.de/10012654273
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From export boom to private debt bubble: A macroeconomic policy regime assessment of Canada's shifting growth regime in the neoliberal era
Klassen, Theodore J. - 2023
This paper examines the emergence of private debt-led growth in Canada since the Global Financial Crisis (GFC) by means of a growth regimes and macroeconomic policy regime assessment. Examining each of the four business cycles in the 1983-2020 period, roughly encompassing the entirety of the...
Persistent link: https://www.econbiz.de/10013537581
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Inequality of income and wealth in the long run: A Kaldorian perspective
Ryoo, Soon - 2015
The paper examines the determinants of income and wealth inequality in a Kaldorian model where the profit share adjusts to clear the goods market and the long-run output-capital ratio is constant. The approach is radically different from both the mainstream approach that stresses properties of...
Persistent link: https://www.econbiz.de/10011788876
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Top income shares and aggregate wealth-income ratio in a two- class corporate economy
Ryoo, Soon - 2016
), highlights the role of financialization in increasing inequality. Third, the analysis suggests that the rise in the aggregate …
Persistent link: https://www.econbiz.de/10011788903
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Money in finance
Wray, L. Randall - 2011
global financial crisis, which could be blamed on excessive financialization of the economy. …
Persistent link: https://www.econbiz.de/10010281714
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Macroeconomic implications of financialization
Skott, Peter; Ryoo, Soon - 2007
A growing literature suggests that 'financialization' may weaken the performance of non-financial corporations and … the investment function (Harrodian vs stagnationist). …
Persistent link: https://www.econbiz.de/10010287829
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Financialization in Kaleckian economies with and without labor constraints
Ryoo, Soon; Skott, Peter - 2008
financialization under labor-constrained and dual-economy conditions. The paper complements the analysis in Skott and Ryoo (2008) which …
Persistent link: https://www.econbiz.de/10010287880