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Financing the capital development of the economy: A Keynes-Schumpeter-Minsky synthesis

Mazzucato, Mariana; Wray, Larry Randall - 2015

This paper discusses the role that finance plays in promoting the capital development of the economy, with particular emphasis on the current situation of the United States and the United Kingdom. We define both "finance" and "capital development" very broadly. We begin with the observation that...

Persistent link: https://www.econbiz.de/10011545297

Banking, finance, and money: A socioeconomics approach

Wray, L. Randall - 2006

creating and organizing markets. By contrast, this paper locates the origin of money in credit and debt relations, with the …

Persistent link: https://www.econbiz.de/10010266447

Demand constraints and big government

Wray, L. Randall - 2007

In a series of articles and books, Harold Vatter and John Walker attempted to make the case that the American economy suffers from chronically insufficient demand that leads to growth below capacity. Of particular interest are a 1989 Journal of Post Keynesian Economics article that extends...

Persistent link: https://www.econbiz.de/10010266471

Working for a good retirement

Butrica, Barbara A.; Smith, Karen E.; Steuerle, C. Eugene - 2006

The choice of retirement age is the most important portfolio choice most workers will make. Drawing on the Urban Institute's Dynamic Simulation of Income model (DYNASIM3), this report examines how delaying retirement for nondisabled workers would affect individual retiree benefits, the solvency...

Persistent link: https://www.econbiz.de/10010266475

Fiscal deficit, capital formation, and crowding out in India: evidence from an asymmetric VAR model

Chakraborty, Lekha S. - 2007

This paper analyzes the real (direct) and financial crowding out in India between 197071 and 200203. Using an asymmetric vector autoregressive (VAR) model, the paper finds no real crowding out between public and private investment; rather, complementarity is observed between the two. The...

Persistent link: https://www.econbiz.de/10010266616

Budget credibility of subnational governments: Analyzing the fiscal forecasting errors of 28 states in India

Chakraborty, Lekha; Chakraborty, Pinaki; Shrestha, Ruzel - 2020

Budget credibility, or the ability of governments to accurately forecast macro-fiscal variables, is crucial for effective public finance management. Fiscal marksmanship analysis captures the extent of errors in the budgetary forecasting. The fiscal rules can determine fiscal marksmanship, as...

Persistent link: https://www.econbiz.de/10012610192

The aftermath of debt surges

Kose, M. Ayhan; Ohnsorge, Franziska; Reinhart, Carmen M.; … - 2021

Debt in emerging market and developing economies (EMDEs) is at its highest level in half a century. In about nine out … of 10 EMDEs, debt is higher now than it was in 2010 and, in half of the EMDEs, debt is more than 30 percentage points of … gross domestic product higher. Historically, elevated debt levels increased the incidence of debt distress, particularly in …

Persistent link: https://www.econbiz.de/10013373848

European stabilization policy after the Covid-19 pandemic: More flexible integration or more federalism?

Andersson, Fredrik N. G.; Jonung, Lars - 2022

of this pattern. The pandemic has had huge impact on the conduct of stabilization policies in the EU. Public debt has …

Persistent link: https://www.econbiz.de/10014318974

Applying OECD policy evaluation criteria to child protection schemes in India

Chakraborty, Lekha; Yadav, Jitesh; Kaur, Amandeep - 2023

The policy evaluation is a crucial component in analyzing the efficacy of public spending in translating the money spent into desired outcomes. Using OECD evaluation criteria, we analyzed the child protection schemes of Odisha to understand whether legal commitments on child protection are...

Persistent link: https://www.econbiz.de/10014474510

The political economy of shadow banking: Debt, finance, and distributive politics under a Kalecki-Goodwin-Minsky SFC framework

Fisher, Eloy; López Bernardo, Javier - 2014

This paper describes the political economy of shadow banking and how it relates to the dramatic institutional changes experienced by global capitalism over past 100 years. We suggest that the dynamics of shadow banking rest on the distributive tension between workers and firms. Politics wedge...

Persistent link: https://www.econbiz.de/10010513037