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Financialisation, distribution, growth and crises : long-run tendencies
Hein, Eckhard; Dodig, Nina - 2014
In this paper we review the empirical and theoretical literature on the effects of changes in the relationship between the financial sector and the non-financial sectors of the economy associated with 'financialisation' on distribution, growth, instability and crises. We take a macroeconomic...
Persistent link: https://www.econbiz.de/10010242861
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Long-Run Unemployment and Macroeconomic Volatility
Fasani, Stefano - 2017
This paper develops a DSGE model with downward nominal wage rigidity, in which aggregate price and productivity dynamics are exogenously determined by independent Brownian motions with drift. As a result, the long-run expected value of unemployment depends positively on the drift coefficients...
Persistent link: https://www.econbiz.de/10012952658
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Inequality, macroeconomic performance and political polarization : an empirical analysis
Proaño Acosta, Christian; Peña, Juan Carlos; … - 2019
This paper investigates the macroeconomic and social determinants of voting behavior, and especially of political polarization, for 20 advanced countries using annual data ranging from 1970 to 2016 and covering 291 parliamentary elections. Using a panel estimation approach and rolling...
Persistent link: https://www.econbiz.de/10011988887
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Long-Run Unemployment and Macroeconomic Volatility
Fasani, Stefano - 2016
This paper develops a DSGE model with downward nominal wage rigidity in which aggregate price and productivity dynamics are exogenously determined by independent Brownian motions with drift. As a result, the long-run expected value of unemployment depends positively on the drift coefficients and...
Persistent link: https://www.econbiz.de/10012981014
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The Neoliberal Legitimation Crisis of 2008
Habbu, Aditya (Adi) - 2011
This paper will discuss how the Financial Crisis of 2008 has thrown neoliberalism into a deep legitimation crisis. Over the past four decades the neoliberal ethic of Ronald Reagan and Margaret Thatcher has permeated American life both public and private. The principles of the laissez faire...
Persistent link: https://www.econbiz.de/10014179691
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American Economic Nationalism : Corporatist, Neoliberal and Neocorporatist Political Strategic Responses to Contemporary Global Systemic Crises
DeDominicis, Benedict E. - 2021
The political theory focus of this paper is the relevance of corporatism to meet the nationalist backlash against the increasing global interdependence that elites encouraged through neoliberal strategies. The paper analyzes the Trump administration’s resistance to international cooperation to...
Persistent link: https://www.econbiz.de/10013311281
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Section 2 Enforcement and the Great Recession : Why Less (Enforcement) Might Mean More (GDP)
Meese, Alan J. - 2019
Section 2 of the Sherman Act bans monopolization of any part of interstate commerce. This essay draws on macroeconomic theory and the New Deal experience with partial repeal of the antitrust laws and cartelization of labor to examine the relationship between macroeconomic stability and the...
Persistent link: https://www.econbiz.de/10014168446
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The unfree, the freer, and the government : economic freedom and the fiscal multiplier
Acevedo, Rafael; Lorca-Susino, María; Mora, Jose U. - In: Journal of government and economics : JGE 13 (2024), pp. 1-8
161 countries from 2000 to 2019 results show, first, that the size of the fiscal multiplier is inversely related to the … level of freedom and, second, countries with the mean level of economic freedom of the sample (6.9) had a multiplier of … around 1. Developed countries are characterized by high levels of freedom and a fiscal multiplier lower than 1 while …
Persistent link: https://www.econbiz.de/10015051942
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Endogenous growth, skill obsolescence and fiscal multipliers
Lechthaler, Wolfgang; Tesfaselassie, Mewael F. - 2021
We analyze the effects of government spending in a New-Keynesian model with search and matching frictions featuring endogenous growth through learning-by-doing and skill loss from long-term unemployment. We show that medium-run and long-run output and unemployment multipliers are much larger...
Persistent link: https://www.econbiz.de/10012514996
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Insights from the Lily Pond : Global Economic Developments Seen from the Perspective of Limits to Growth - Featuring the Oil Enigma
Skala, Martin - 2010
The paper presents and analyses the structure and consequences of limits to growth for the global economy. Apart from the famous report for the Club of Rome, a wide range of related literature, which all caution against the idea of unrestricted growth, is also covered. In presenting side tracks...
Persistent link: https://www.econbiz.de/10013138802