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Endogenous money: on banking behaviour in new and post Keynesian models
Georg, Co-Pierre; Pasche, Markus - 2008
In New Keynesian as well as in Post Keynesian macroeconomic models, money supply is assumed to be endogenous. The reasons for the endogeneity and the role of the financial sector in the supply process, however, are seen very different. In this paper we explicitly derive the behaviour of the...
Persistent link: https://www.econbiz.de/10010266680
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Explaining the aggregate price level with Keynes's principle of effective demand
Hartwig, Jochen - 2004
The conventional wisdom about Keynes's Principle of Effective Demand is that it states something about quantities. It …
Persistent link: https://www.econbiz.de/10010285937
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Keynes versus the post keynesians on the principle of effective demand
Hartwig, Jochen - 2004
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 Principle of Effective Demand, i.e. the D/Z-model, with Keynes's own …
Persistent link: https://www.econbiz.de/10010285939
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Financial Keynesianism and market instability
Wray, L. Randall - 2011
In this paper I will follow Hyman Minsky in arguing that the postwar period has seen a slow transformation of the economy from a structure that could be characterized as "robust" to one that is "fragile". While many economists and policymakers have argued that "no one saw it coming", Minsky and...
Persistent link: https://www.econbiz.de/10008906576
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The dismal state of macroeconomics and the opportunity for a new beginning
Wray, L. Randall - 2011
postwar period - from the "Age of Keynes" through the Friedmanian era and the return of Neoclassical economics in a … earlier Keynesian tradition to see what was left out of postwar macro. For example, the synthesis version of Keynes never … incorporated true uncertainty or "unknowledge" and thus deviated substantially from Keynes's treatment of expectations in chapters …
Persistent link: https://www.econbiz.de/10008906589
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Time, expectations and financial markets
Herr, Hansjörg - 2009
After the breakdown of the Bretton Woods system and the beginning of the neoliberal revolution, financial markets became very unstable. The theoretical background of the neoliberal revolution stands in the tradition of Léon Walras. He was very much impressed by Isaac Newton, used his...
Persistent link: https://www.econbiz.de/10009549820
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Secular stagnation or stagnation policy? : Steindl after summers
Hein, Eckhard - 2015
The current debate on secular stagnation is suffering from some vagueness and several shortcomings. The same is true for the economic policy implications. Therefore, we provide an alternative view on stagnation tendencies based on Josef Steindl’s contributions. In particular, Steindl (1952)...
Persistent link: https://www.econbiz.de/10011349456
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Post-Keynesian macroeconomics since the mid-1990s : main developments
Hein, Eckhard - 2016
In this paper the main developments in post-Keynesian macroeconomics since the mid- 1990s will be reviewed. For this purpose the main differences between heterodox economics in general, including post-Keynesian economics, and orthodox economics will be reiterated and an overview over the strands...
Persistent link: https://www.econbiz.de/10011560674
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Keynes versus the post keynesians on the principle of effective demand
Hartwig, Jochen (contributor) - 2004 - [Elektronische Ressource]
"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 Principle of Effective Demand, i.e. the D/Z-model, with Keynes's own …
Persistent link: https://www.econbiz.de/10002202978
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Explaining the aggregate price level with Keynes's principle of effective demand
Hartwig, Jochen (contributor) - 2004 - [Elektronische Ressource]
The conventional wisdom about Keynes's Principle of Effective Demand is that it states something about quantities. It …
Persistent link: https://www.econbiz.de/10002521580