This article is an attempt to show that China's post-socialist transformation involved a change in its growth regime. Indeed, during the Maoist era, it took the form of a "forced growth" as theorized by Kornai (1972). In addition, "export aversion" was one of the main characteristics of Chinese...

This paper presents the current “state of the art” of Post-Keynesian modelling, as well as the most important issues raised by it. We first present a new formal statement of the Keynes' model, highlighting the importance of the “static model of a dynamic process”, and insisting on the...

In this paper, a standard short-run Kaleckian macromodel is developed. The stability of equilibrium is studied and some comparative static exercises are made. The paper then takes into account different specifications for an endogenous propensity to invest and systematically analyze the...

<em>Debt and Profit Rate: A Heterodox Model of Financial Instability</em> ABSTRACT: The purpose of this paper is to extend the Minskyan tradition of financial instability to the scope of a Cambridgian model with a quasi-complete saving function. First, we show that an important part of Minskyan...

Thanks to the two experiences of Argentina and Greece in the 1990s and the 2000s, this article underlines the importance of taking into account monetary regime when analyzing the traverse of public debts. In contexts of financial liberalization and monetary rigidity (exchange rate rigidity and...

This article explores the consequences of an endogenous dividend policy in the context of a Cambridge model of growth and distribution. In this logic, we take into account the interactions between the retention ratio and the level of debt and investigate the conditions for macroeconomic...

Purpose – This paper attempts to show that Chinese post-socialist transformation has involved a deep change in growth regime. Design/methodology/approach – The authors begin by detailing the institutional background of the study: the Chinese post-socialist transformation. They compare growth...

This article presents a Neo-Kaleckian model with debt in which complete saving behaviours are taken into account. First, we analyse the short-run equilibrium values and the comparative static of the model in a standard way. Then, we examine the long-run results when the debt ratio is endogenous...

For more than 20 years, Post Keynesian contributions, based on the work of Hyman Minsky, have been flourishing. However, these models are often extremely sophisticated, involving numerical simulations to obtain precise results. Thus, the main purpose of this paper is to propose an introductory...

In this article, we develop a standard short-run Kaleckian macromodel. First, we study the stability of equilibrium and make some comparative static exercises. Then, we take into account different specifications for an endogenous propensity to invest and systematically analyze the short-run...