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Debt, boom, bust : a theory of Minsky-Veblen cycles
Kapeller, Jakob; Schütz, Bernhard - 2012
events within a Minsky-Veblen Cycle. To illustrate this claim we introduce conspicuous consumption concerns, as described by … equality leads to a corresponding increase in debt-financed consumption demand. Here Minskyian dynamics come into play …-financed consumption boom. As the solvency of households decreases and interest rates move up, banks reduce lending, triggering household …
Persistent link: https://www.econbiz.de/10009739001
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Heterodox macro after the crisis
Skott, Peter - 2011
Macroeconomics is in crisis and this creates openings for alternative perspectives. The dominant heterodox traditions, however, have shortcomings that need to be addressed, both to improve our understanding of the real world and to take advantage of the opportunities offered by the irrelevance...
Persistent link: https://www.econbiz.de/10009357209
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Short-run macro after the crisis : the end of the "new" neoclassical synthesis?
Landmann, Oliver - 2014 - Rev.
The Financial Crisis of 2008, and the Great Recession in its wake, have shaken up macroeconomics. The paradigm of the "New" Neoclassical Synthesis, which seemed to provide a robust framework of analysis for short-run macro not long ago, fails to capture key elements of the recent crisis. This...
Persistent link: https://www.econbiz.de/10010242840
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The Macroeconomic Crisis (La Crisi della Macroeconomia)
Cozzi, Terenzio - 2012
The DSGE models are based on hypotheses that have the effect of excluding the possibility of severe financial and economic crises with the consequent policy implications going in the laissez-faire direction. The hypothesized unique and stable equilibrium in combination with rational expectations...
Persistent link: https://www.econbiz.de/10013114759
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Rethinking Macroeconomics in the Light of the Financial Crisis
Beker, Victor A. - 2011
Persistent link: https://www.econbiz.de/10013119389
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Macroeconomie in Crisi E Macroeconomie in Ripresa (Macroeconomics in Crisis and Macroeconomics in Recovery) (in Italian)
Roncaglia, Alessandro - 2011
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...
Persistent link: https://www.econbiz.de/10013120079
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The Eurozone in crisis : a Kaleckian macroeconomic regime and policy perspective
Hein, Eckhard; Martschin, Judith - 2020
The current Covid-19 Crisis 2020 has hit the Eurozone in a highly fragile situation, with a weak and asymmetric recovery from the Great Financial Crisis, the Great Recession and the following Eurozone Crisis. These crises have also revealed the weaknesses of the macroeconomic policy institutions...
Persistent link: https://www.econbiz.de/10012239654
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Of fairies and governments : an ABM evaluation of the expansionary austerity hypothesis
Oliveira, Adriano Dos Reis M. Laureno; Lima, Gilberto Tadeu - In: Economia : revista da ANPEC 21 (2020) 2, pp. 233-254
This paper draws on a debate between Robert Skidelsky and Paul Krugman on the expansionary austerity hypothesis as a motivation to build a demand-driven agent-based model. The model features contagion across firms to explore whether fiscal consolidations may become expansionary due to a positive...
Persistent link: https://www.econbiz.de/10012307258
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Quantitative easing and asset bubbles in a stock-flow consistent framework
Haas, Cameron; Young-Taft, Tai - 2017
Ever since the Great Recession, central banks have supplemented their traditional policy tool of setting the short-term interest rate with massive buyouts of assets to extend lines of credit and jolt flagging demand. As with many new policies, there have been a range of reactions from...
Persistent link: https://www.econbiz.de/10011737611
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Implications of household-level evidencefor policy models : the caseof macro-financial linkages
Muellbauer, John - 2020
Persistent link: https://www.econbiz.de/10012265008