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Building on the established Post Keynesian theory of the firm, we identify different stakeholders inside and outside the firm, and we assess their potentially conflicting objectives. Depending on the bargaining power of these different stakeholders, we can distinguish different macroeconomic...
Persistent link: https://www.econbiz.de/10008919605
decisions such as pricing, financing, and investment are thus made strategically rather than optimally. Heterodox economists are …
Persistent link: https://www.econbiz.de/10011110282
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/10010701885
, 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/10010821641
This paper explores the concept of financialization using a «stages of development» approach. The paper develops a … stylized history of financialization and tracks its evolution through different stages since the end of World War II. The paper … outcomes. The fact that financialization is long-running and expansionary in its early and middle stages, made it extremely …
Persistent link: https://www.econbiz.de/10008919609
This paper explores the concept of financialization using a «stages of development» approach. The paper develops a … stylized history of financialization and tracks its evolution through different stages since the end of World War II. The paper … outcomes. The fact that financialization is long-running and expansionary in its early and middle stages, made it extremely …
Persistent link: https://www.econbiz.de/10008919624
global financial crisis, which could be blamed on excessive financialization of the economy. …
Persistent link: https://www.econbiz.de/10008854453
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....
Persistent link: https://www.econbiz.de/10011098357
The object of this paper is to analyse the links between income distribution and growth in a finance-led economy, with a post Keynesian "stock-flow" macroeconomic model. In fact, the increased share of financial activities creates a new macroeconomic and income distribution dynamic. We will use...
Persistent link: https://www.econbiz.de/10005510651
The philosophy of globalism is neoliberalism. It has become prevalent due to the financialisation of the economy. During the twenty-five years of the so-called Fordist growth regime the interests of the real sector were served by the financial sector. This situation has changed in the last few...
Persistent link: https://www.econbiz.de/10010938998