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This paper analyses the long-run effects of financialisation and of the recent financial and economic crises for 15 … financialisation, namely a debtled private demand boom, an export-led mercantilist, and a domestic demand-led regime. We then take a …
Persistent link: https://www.econbiz.de/10011310221
the financial sector and the non-financial sectors of the economy associated with 'financialisation' on distribution … financialisation to the macroeconomy: first, the effect on income distribution, second, the effects on investment in capital stock … financialisation, short- to medium-run dynamic 'profits without investment' regimes may emerge, which can be driven by flourishing …
Persistent link: https://www.econbiz.de/10010332606
that is often called the financialisation of capitalism. By developing a two-sector theoretical model the ratio of … significant role. The results confirm that in the course of financialisation the US financial sector has been able to extract …
Persistent link: https://www.econbiz.de/10011882737
Since the Great Recession of 2007-9 the financialisation of the US economy has reached a watershed characterised by … framework for big banks. The future path of financialisation in the USA will depend heavily on government policy with regard to …
Persistent link: https://www.econbiz.de/10011882741
The increasing dominance of finance starting in the late 1970s/early 1980s in the US and the UK, and somewhat later in other countries, was associated with two fundamental and structural processes generating the contradictions of this phase of development and finally the financial and economic...
Persistent link: https://www.econbiz.de/10011431825
The finance dominated type of capitalism that has developed from the late 1970s and early 1980s on finds its nucleus in the deregulation of the national and international financial system and the switch to a shareholder oriented corporate governance system. Other aspects such as labour market...
Persistent link: https://www.econbiz.de/10011449228
In the era of financialisation, increasing income inequality could be observed in most developed and many developing … consumption in order to compensate for the potential lack of demand (associated with the depressing effect of financialisation … through which financialisation is expected to affect a countries development, a theoretical discussion on the conditions that …
Persistent link: https://www.econbiz.de/10011449229
Ljungqvist and Sargent (2017) (LS) show that unemployment fluctuations can be understood in terms of a quantity they call the "fundamental surplus." However, their analysis ignores risk premia, a force that Hall (2017) shows is important in understanding unemployment fluctuations. We show how...
Persistent link: https://www.econbiz.de/10012818999
This paper develops a dynamic general equilibrium model with heterogeneous firms that face search complementarities in the formation of vendor contracts. Search complementarities amplify small differences in productivity among firms. Market concentration fosters monopsony power in the labor...
Persistent link: https://www.econbiz.de/10012653492
This paper studies how wages respond to a sudden change in employer concentration. It exploits a reform that deregulated the Swedish pharmacy market, which until 2009 was a monopoly. The reform involved a substantial increase in the number of employers on the pharmacy labor market. However, the...
Persistent link: https://www.econbiz.de/10012660622