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Historical macroeconomics and American macroeconomic history

Calomiris, Charles W.; Hanes, Christopher L. - 1994

Persistent link: https://www.econbiz.de/10000147423

Revisiting (and connecting) Marglin-Bhaduri and Minsky : an SFC look at financialization and profit-led growth

Santos, Claudio Hamilton Matos dos; Silva, Antonio … - 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/10003859971

Revisiting "New Cambridge" : the three financial balances in a general stock-flow consistent applied modeling strategy

Santos, Claudio Hamilton Matos dos; Silva, Antonio … - 2010

This paper argues that modified versions of the so-called “New Cambridge” approach to macroeconomic modeling are both quite useful for modeling real capitalist economies in historical time and perfectly compatible with the “vision” underlying modern Post-Keynesian stock-flow consistent...

Persistent link: https://www.econbiz.de/10003974894

The dismal state of macroeconomics and the opportunity for a new beginning

Wray, L. Randall - 2011

) coming. Obviously, the answer is complex, but it must include reference to the evolution of macroeconomic theory over the … leave out the parallel developments in finance theory - with its efficient markets hypothesis - and in approaches to … 12 and 17 of the General Theory. It essentially reduced Keynes to sticky wages and prices, with nonneutral money only in …