Financialization is a process whereby financial markets, financial institutions and financial elites gain greater … real sector; (2) transfer income from the real sector to the financial sector; and (3) increase income inequality and … risk of debt-deflation and prolonged recession. Financialization operates through three different conduits: changes in the …

buys goods and goods buy money, but goods do not buy goods. (2) Money is always debt; it cannot be a commodity from the … first proposition because, if it were, that would mean that a particular good is buying goods. (3) Default on debt is …

In the present paper we explicitly introduce interest payments and debt into a Kaleckian distribution and growth model … the equilibrium debt-capital-ratio are also analysed. It is shown, that the effects of interest variations on the … interest rate and the debt-capital-ratio. If the conditions for short-run "normal" effects of interest rate variations are …

almost all other European countries, Sweden has had budget surpluses and a government debt ratio around 40 percent of GDP …

explanations for it, and how independent institutions could help reduce it.  Are fiscal councils complements to or substitutes for …

Historically high levels of private and public debt coupled with already very low short-term interest rates appear to … considered is monetary financing by central banks to boost demand and/or relieve debt burdens. We find little empirical evidence …

Historically high levels of private and public debt coupled with already very low short-term interest rates appear to … considered is monetary financing by central banks to boost demand and/or relieve debt burdens. We find little empirical evidence …