In the aftermath of the Great Recession governments have implemented several policy measures to counteract the collapse of the financial sector and the downswing of the real economy. Within a framework of Minsky-Veblen cycles, where relative consumption concerns, a debt-led growth regime and...

This paper analyses the emergence of internal debtor-creditor relationships within a monetary union. Developing a stock-flow consistent model consisting of three regions - North, South, and the Rest of the World (RoW), where North and South form a monetary union - it shows how the simultaneous...

This paper analyses the emergence of internal debtor-creditor relationships within a monetary union. Developing a stock- ow consistent model consisting of three regions - North, South, and the Rest of the World (RoW), where North and South form a monetary union - it shows how the simultaneous...

Die Frage nach dem Wesen der Gerechtigkeit ist eine in Ökonomie, Politik und Philosophie umstrittene Frage. Die nachstehende Zusammenschau von philosophischen Argumenten zum Wesen und dem rechten Verständnis von "Gerechtigkeit" als normativem Konzept versucht dabei nicht nur einen groben...

We study the distributional consequences of COVID-19 by using a stock-flow consistent agent-based model that captures some of the aspects of pandemic-related lockdowns. In particular, the model distinguishes between "essential" and "non-essential" industries, between jobs that can be done from...