The Review of Political Economy (ROPE) welcomed the year 2009 with an issue in which the first two articles use an interesting yet not very popular modeling framework, namely the aggregate demand/aggregate supply (D/Z) model from Chapter 3 of Keynes's General Theory. Unfortunately, as I intend...

The American Post Keynesians - those who attach importance to the Big P and the absence of a dash between post and Keynesian - claim to be Keynes's most literal interpreters, or the truest Keynesians (HOLT ET AL., 1998, p. 17). This paper compares the Post Keynesian interpretation of the...

The specification of the accumulation function is critical for the properties and implications of structuralist and post-Keynesian models. A large Kaleckian literature assumes that investment is relatively insensitive to variations in the utilization rate of capital, and this extension of a...

Most Kaleckian models assume a perfectly elastic labor supply, an assumption that is questionable for many developed economies. This paper presents simple labor-constrained Kaleckian models and uses these models to compare the implications of financialization under labor-constrained and...

This paper develops a neo-Kaleckian endogenous growth model that incorporates aggregate supply - demand balance and balance between labor force and employment growth. The paper explicitly models income distribution which is a critical channel whereby unemployment affects investment and growth....

This paper examines the effects of managerial pay on the Post Keynesian model of growth and distribution. Introducing managerial pay explains why economies may exhibit both wage- and profit-led characteristics in response to changed income distribution. Second, managerial pay undoes Pasinetti's...

This paper provides an analysis of Keynes's original Bancor proposal as well as more recent proposals for fixed exchange rates. We argue that these schemes fail to pay due attention to the importance of capital movements in today's economy, and that they implicitly adopt an unsatisfactory notion...

The theory of endogenous money supply forms one of the cornerstones of Post Keynesian economics. It has been developing rapidly during the last twenty years, but is still neglected as a theoretical background for practical central bank policy. This may be (among other reasons) due to the...

In order to better understand relationships between the real economy and financial economy, it is necessary to formulate a model of financing. New Keynesian theory emphasizes that a firm's net worth influences investment decisions and business cycles under an imperfect capital market. We have...

In diesem Beitrag geht es darum, den Postkeynesianismus als paradigmatische Alternative zum herrschenden neoklassischen Mainstream etwas näher kennenzulernen. Es zeigt sich sehr schnell, dass der Postkeynesianismus keine einheitliche Denkschule darstellt, sondern vielmehr eine Vielzahl von...