This paper investigates the demand regime of the Greek economy for the period 1960-2017, using a Bhaduri/Marglin (1990) type macroeconomic demand-led model and applying the empirical methodology developed in Stockhammer et al. (2009). The analysis finds that Greece is another European economy...

This paper investigates the demand regime of the Greek economy for the period 1960-2017, using a Bhaduri/Marglin (1990) type macroeconomic demand-led model and applying the empirical methodology developed in Stockhammer et al. (2009). The analysis finds that Greece is another European economy...

Neither the older post-Keynesian models of growth and distribution (Kaldor, J. Robinson) nor the models based on the work by Kalecki and Steindl take sufficiently account of monetary va¬riables. Starting from a non-monetary Kaleckian effective demand model by Bhaduri & Marglin in which...

The empirical literature on neo-Goodwinian models of growth and distribution still lacks an explicit treatment of capital accumulation. Further, and across different theoretical approaches, residential investment is seen as a critical driver of the business cycle. This paper addresses these two...

In the present paper we explicitly introduce interest payments and debt into a Kaleckian distribution and growth model with an investment function very close to Kalecki's original writings. The effects of interest rate variations on the short-run equilibrium values of capacity utilisation,...

The macroeconomic effects of "financialisation" are assessed applying two different variants of a Kaleckian model of distribution and growth. The focus is on the effects of changes in distribution between shareholders/rentiers, firms and workers, as well as on the effects of increasing...

We review post-Keynesian assessments of the macroeconomic demand and growth impacts of financialisation. First, we examine the channels of influence of financialisation on distribution and on the different components of private aggregate demand, i.e. investment, consumption and net exports....

The aim of this paper is to analyze the effects of interest rates on rates of capacity utilization, capital accumulation and profit in Italy within a post-Kaleckian theoretical framework. The model employed in the analysis, which was developed by Hein/Schoder (2011), is based on monetary-...

This paper develops a multi-country post-Kaleckian demand-led growth model that incorporates the role of the government. One novelty of this paper is to integrate crosscountry effects of both changes in income distribution and fiscal policy. The model is used to estimate econometrically the...

We analyse the effects of interest rate variations on the rates of capacity utilisation, capital accumulation and profit in a simple post-Kaleckian distribution and growth model. This model gives rise to different potential accumulation regimes depending on the values of the parameters in the...