Into an analytical stock-flow consistent Post-Kaleckian distribution and growth model the following transmission channels of 'financialisaton' are integrated. 1. 'Financialisation' is assumed to affect distribution between firms and rentiers in the short run, and distribution between capital and...

Public health events (PHEs) have emerged as significant threats to human life and health, as well as affecting economic growth. PHEs such as COVID-19 have led people to reflect on better regular prevention and control (RPC) for PHEs. Firstly, under the background of RPC for PHEs, a neoclassical...

The paper combines Baumol's model of structural change with a model of aggregate demand growth in the Keynesian-Kaleckian tradition to predict the dynamics of aggregate employment. The model for the demand regime is estimated with - and Baumol's model for the productivity regime is calibrated on...

The financial and economic crisis brings to a reconsideration of macroeconomics: as it happened in the past, after the Great Crash of 1929 as well as after the Second World War and after the collapse of the Bretton Woods system in 1971 and the subsequent oil crisis. A brief critical survey of...

This paper presents a re-interpretation of a New Keynesian model with capital, where zero long-run output gap restriction is eliminated and a certain type of assumption regarding risk-less nominal interest rate is adopted

Solow has repeatedly called for the development of models that combine equilibrium and out-of equilibrium outcomes or what he called a macroeconomics of the medium-run. This paper recounts the history of Solow's different attempts to address this issue. It starts in early 1950s when Solow...

Modern growth theory derives mostly from Robert Solow's "A Contribution to the Theory of Economic Growth" (1956). Solow's own interpretation locates the origins of his "Contribution" in his view that the growth model of Roy Harrod implied a tendency toward progressive collapse of the economy. He...