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Revisiting (and connecting) Marglin-Bhaduri and Minsky : an SFC look at financialization and profit-led growth

Santos, Claudio Hamilton Matos dos; Silva, Antonio … - 2009

Many heterodox strands of thought share both a concern with the study of different phases or growth regimes in the history of capitalism and the use of formal short-run models as an analytical tool. This text suggests that: (1) this strategy is potentially misleading; (2) that the stock-flow...

Persistent link: https://www.econbiz.de/10003859971

Revisiting "New Cambridge" : the three financial balances in a general stock-flow consistent applied modeling strategy

Santos, Claudio Hamilton Matos dos; Silva, Antonio … - 2010

This paper argues that modified versions of the so-called “New Cambridge” approach to macroeconomic modeling are both quite useful for modeling real capitalist economies in historical time and perfectly compatible with the “vision” underlying modern Post-Keynesian stock-flow consistent...

Persistent link: https://www.econbiz.de/10003974894

The dismal state of macroeconomics and the opportunity for a new beginning

Wray, L. Randall - 2011

) coming. Obviously, the answer is complex, but it must include reference to the evolution of macroeconomic theory over the … leave out the parallel developments in finance theory - with its efficient markets hypothesis - and in approaches to … 12 and 17 of the General Theory. It essentially reduced Keynes to sticky wages and prices, with nonneutral money only in …

Persistent link: https://www.econbiz.de/10008906589

On the (in-)stability and the endogeneity of the "normal" rate of capacity utilisation in a Post-Keynesian/Kaleckian "monetary" distribution and growth model

Hein, Eckhard - In: Distribution, development and prices critical perspectives, (pp. 129-150). 2006

Persistent link: https://www.econbiz.de/10003675384

Prosperity for all : how to prevent financial crises

Farmer, Roger E. A. - 2017

suggestions of "New Keynesian" scholars who propose standard modifications to select assumptions of Keynes' General Theory. But … future ones-macroeconomic theory must become attuned to present-day conditions. Governments need to intervene in asset …