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regimesemerge, depending on the institutional setting of the respective model economy:the debt-led private demand boom regime (DLPD … government deficits, on the one hand, andELMregimes, on the other, depending ontherequired deleveraging of private household debt …
Persistent link: https://www.econbiz.de/10012696153
Making use of a post-Keynesian/Kaleckian two-country stock-flow consistent (SFC) simulation model, we shed light on different regimes in modern finance-dominated capitalism, their interaction at the global scale, and then on the changes in regimes after the 2007-09 crises. Most importantly, we...
Persistent link: https://www.econbiz.de/10014550808
In several publications, starting more than a decade ago, Peter Flaschel and co-authors have outlined the features of a 'social capitalism' as a normative alternative to the liberal and financialised capitalism of the Anglo-Saxon type, but also to the undemocratic Chinese-type of state...
Persistent link: https://www.econbiz.de/10013393481
Persistent link: https://www.econbiz.de/10013369567
The increasing dominance of finance starting in the late 1970s/early 1980s in the US and the UK, and somewhat later in other countries, was associated with two fundamental and structural processes generating the contradictions of this phase of development and finally the financial and economic...
Persistent link: https://www.econbiz.de/10011431645
the introduction of the political economy dimension (social blocs, growth coalitions, changes in institutions favouring …
Persistent link: https://www.econbiz.de/10013459951
This paper examines the emergence of private debt-led growth in Canada since the Global Financial Crisis (GFC) by means … export-led growth regime in the early 1990s, a shift to a 'falling' weakly export-led regime by 2001, and a turn to a debt …-price competitiveness. Instead, the post-GFC combination of low real interest rates, which encouraged the accumulation of private debt and …
Persistent link: https://www.econbiz.de/10014516158
This paper examines the emergence of private debt-led growth in Canada since the Global Financial Crisis (GFC) by means … export-led growth regime in the early 1990s, a shift to a 'falling' weakly export-led regime by 2001, and a turn to a debt … debt and fiscal policy which ex post did not address the negative financial balances of the household sector supported the …
Persistent link: https://www.econbiz.de/10013500697
explaining the tendencies towards 'financialisation'. We focus on important strands of this literature: the French Regulation … single out how each of them views the interaction between social institutions and the economy and the related dynamics … (financialisation). Third, we outline how these different approaches view the main characteristics and features of financialisation …
Persistent link: https://www.econbiz.de/10010242863
In recent years, diverging demand and growth regimes have received greater scholarly attention. In particular, the intersection between different variants of Comparative Political Economy and the post-Keynesian macroeconomic analysis provides a promising avenue for understanding the main...
Persistent link: https://www.econbiz.de/10012489423