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Do liquidity constraints matter in explaining firm size and growth? Some evidence from the Italian manufacturing industry
Fagiolo, Giorgio; Luzzi, Alessandra - 2004
The paper investigates whether liquidity constraints affect firm size and growth dynamics using a large longitudinal sample of Italian manufacturing firms. We run standard panel-data Gibrat regressions, suitably expanded to take into account liquidity constraints (proxied by cash flow scaled by...
Persistent link: https://www.econbiz.de/10010328431
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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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Financialisation Issues in a Post-Keynesian Stock-flow Consistent Model
Lavoie, Marc - In: Intervention. European Journal of Economics and … 05 (2008) 2, pp. 331-356
, production, banking and government sectors. This paper focuses on changes in parameters that are tied with financialization. The … effects on the following changes are examined: the target proportion of retained earnings to investment, the proportion of …
Persistent link: https://www.econbiz.de/10014363046
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Financialization in Kaleckian Economies with and without Labor Constraints
Ryoo, Soon; Skott, Peter - In: Intervention. European Journal of Economics and … 05 (2008) 2, pp. 357-386
financialization under labor-constrained and dual-economy conditions. The paper complements the analysis in Skott and Ryoo (2008) which … commonly associated with financialization tend to be expansionary in both dual-economy and labor-constrained settings. …
Persistent link: https://www.econbiz.de/10014363047
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From export boom to private debt bubble: a macroeconomic policy regime assessment of Canada's shifting growth regime
Klassen, Theodore - In: European Journal of Economics and Economic Policies: … 21 (2024) 1, pp. 73-89
This paper examines the emergence of private debt-led growth in Canada since the Global Financial Crisis (GFC) by means of a growth regime 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/10014518643
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Rethinking wage vs. profit-led growth theory with implications for policy analysis
Palley, Thomas I. - 2014
The distinction between wage-led and profit-led growth is a major feature of Post-Keynesian economics and it has triggered an extensive econometric literature aimed at identifying whether economies are wage or profit-led. That literature treats the economy's character as exogenously given. This...
Persistent link: https://www.econbiz.de/10010460566