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Financialization: What it is and Why it Matters
Palley, Thomas I. - 2008
Financialization is a process whereby financial markets, financial institutions and financial elites gain greater influence over economic policy and economic outcomes. Financialization transforms the functioning of economic system at both the macro and micro levels. Its principal impacts are to...
Persistent link: https://www.econbiz.de/10010460461
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Financialization: what it is and why it matters
Palley, Thomas I. - 2008
Finanzialisierung ist ein Prozess, in dessen Verlauf Finanzmärkte, -institutionen und -eliten zunehmend Einfluss auf Wirtschaftspolitik und ökonomische Ergebnisse gewinnen. Finanzialisierung transformiert die Funktionsweise des ökonomischen Systems sowohl auf der Makro- als auch auf der...
Persistent link: https://www.econbiz.de/10003744541
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Finance-dominated capitalism in crisis : the case for a Global Keynesian New Deal
Hein, Eckhard; Truger, Achim - 2010
We analyse the long-run imbalances of finance-dominated capitalism underlying the present crisis - which began in 2007 - with a focus on developments in the US and Germany. We argue that beyond inefficient regulation of the financial sector, the severeness of the present crisis has been mainly...
Persistent link: https://www.econbiz.de/10009549800
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What makes a bailout acceptable?
Todorova, Zdravka - In: Journal of economic issues : jei 43 (2009) 2, pp. 319-325
Persistent link: https://www.econbiz.de/10003862865
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Una riconsiderazione degli studi da Kalecki sull'economia statunitense
Gallardo, Julio Lòpez - In: Moneta e Credito 65 (2012) 257, pp. 59-81
Kalecki devised a novel method of analysis, which was also used by some of his collaborators.Unfortunately however … present paper is to revisit Kalecki’s applied studies. I will in the first place explain and discuss Kalecki’s outlook and … downswing. The results of have been rather disappointing. Using Kalecki’s approach and methodology, I have verified that it has …
Persistent link: https://www.econbiz.de/10010854288
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The dismal state of macroeconomics and the opportunity for a new beginning
Wray, L. Randall - 2011
The Queen of England famously asked her economic advisers why none of them had seen "it" (the global financial crisis) coming. Obviously, the answer is complex, but it must include reference to the evolution of macroeconomic theory over the postwar period - from the "Age of Keynes" through the...
Persistent link: https://www.econbiz.de/10008906589
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Is there room for bulls, bears, and states in the circuit?
Wray, L. Randall - 2011
This paper takes off from Jan Kregel's paper "Shylock and Hamlet, or Are There Bulls and Bears in the Circuit?" (1986), which aimed to remedy shortcomings in most expositions of the "circuit approach". While some "circuitistes" have rejected John Maynard Keynes's liquidity preference theory,...
Persistent link: https://www.econbiz.de/10009523597
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Macroeconomic effects of personal and functional income inequality : theory and empirical evidence for the US and Germany
Prante, Franz J. - 2017
This paper presents a simple illustrative post-Kaleckian model of distribution and growth that incorporates personal income inequality and interdependent social norms. The model shows in an easily accessible manner how personal and functional income inequality can potentially have contrary...
Persistent link: https://www.econbiz.de/10011606907
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Distribution, wealth and demand regimes in historical perspective : USA, UK, France and Germany, 1855-2010
Stockhammer, Engelbert; Rabinovich, Joel; Reddy, Niall - 2018
Most empirical macroeconomic research limited to the period since World War II. This paper analyses the effects of changes in income distribution and in private wealth on consumption and investment covering a period from as early as 1855 until 2010 for the UK, France, Germany and USA, based on...
Persistent link: https://www.econbiz.de/10011924602
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Capital Productivity and the Profit Share in the United States : A Keynesian Approach
Perez-Montiel, Jose - 2020
With US economy data we suggest that there exists a causal relationship between negative shocks in capital productivity and positive shocks in the profit share. We argue that, faced with a capital productivity decrease, the US firm sector politically pushes wages down in order to maximize the...
Persistent link: https://www.econbiz.de/10014095775