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The Cyclically Adjusted Budget : History and Exegesis of a Fateful Estimate
Costantini, Orsola - 2017
This paper traces the evolution of the concept of the cyclically adjusted budget from the 1930s to the present. The … idea of balancing the budget over the cycle was first conceived in Sweden in the 1930s by the economists of the Stockholm …
Persistent link: https://www.econbiz.de/10012970752
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Toward a unified framework of credit creation
Becke, Susanne von der; Sornette, Didier - 2014
contraction in credit and to liquidity spirals. Subsequent measures by policymakers can be interpreted as attempts to avoid …
Persistent link: https://www.econbiz.de/10010337985
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The Value of Liquidity
Basso, Leonardo Cruz - 2008
liquidity. Liquidity will be understood as cash, that is, we are leaving aside assets of lesser degree of liquidity than cash …. The article begins with the Keynesian view about the value of liquidity followed by an exploration of the value of … message of all models is clear. Liquidity always has a positive value, being differentiated in the measurement of it by the …
Persistent link: https://www.econbiz.de/10014220997
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"Orthodox versus Heterodox (Minskyan) Perspectives of Financial Crises: Explosion in the 1990s versus Implosion in the 2000s"
Munoz, Jesus - Levy Economics Institute - 2011
Orthodox and heterodox theories of financial crises are hereby compared from a theoretical viewpoint, with emphasis on their genesis. The former view (represented by the fourth-generation models of Paul Krugman) reflects the neoclassical vision whereby turbulence is an exception; the latter...
Persistent link: https://www.econbiz.de/10009367419
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Orthodox versus heterodox (Minskyan) perspectivesof financial crises: Explosion in the 1990s versus implosion in the 2000s
Muñoz, Jesús - 2011
Orthodox and heterodox theories of financial crises are hereby compared from a theoretical viewpoint, with emphasis on their genesis. The former view (represented by the fourthgeneration models of Paul Krugman) reflects the neoclassical vision whereby turbulence is an exception; the latter...
Persistent link: https://www.econbiz.de/10010286521
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A New Theory of Demand-Restricted Growth
Gries, Thomas - 2018
Mainstream growth theory is dominated by variations of the neoclassical approach. Growth is explained fully by elements of the supply side. In this paper we examine the general mechanism of technology growth and capital accumulation. However, instead of following a fully supply-side driven...
Persistent link: https://www.econbiz.de/10011892020
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Saving and Investment in the Twenty-First Century: The Great Divergence – some comments from a post-Keynesian perspective
Hein, Eckhard - In: European Journal of Economics and Economic Policies: … 18 (2021) 3, pp. 293-302
This contribution discusses the book Saving and Investment in the Twenty-First Century: The Great Divergence by . It touches upon the underlying theoretical perspectives, von Weizsäcker's neo-Austrian view and Krämer's short-run Keynesian theory, and it proposes an alternative based on...
Persistent link: https://www.econbiz.de/10014363426
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Orthodox versus heterodox (Minskyan) perspectivesof financial crises : explosion in the 1990s versus implosion in the 2000s
Muñoz, Jesús - 2011
Orthodox and heterodox theories of financial crises are hereby compared from a theoretical viewpoint, with emphasis on their genesis. The former view (represented by the fourthgeneration models of Paul Krugman) reflects the neoclassical vision whereby turbulence is an exception; the latter...
Persistent link: https://www.econbiz.de/10009380295
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¿Tienen Futuro Los Modelos DSGE? (Do DSGE Models Have a Future?)
Blanchard, Olivier J. - 2016
Spanish Abstract: Los modelos dsge actuales tienen graves defectos, pero son sumamente mejorables y centrales para el futuro de la macroeconomía. Para mejorarlos debe volverse menos insulares, utilizado un conjunto mucho más amplio de investigaciones económicas. También deben volverse menos...
Persistent link: https://www.econbiz.de/10014124023
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Orthodox Versus Heterodox (Minskyan) Perspectives of Financial Crises : Explosion in the 1990s Versus Implosion in the 2000s
2011
Orthodox and heterodox theories of financial crises are hereby compared from a theoretical viewpoint, with emphasis on their genesis. The former view (represented by the fourth generation models of Paul Krugman) reflects the neoclassical vision whereby turbulence is an exception; the latter...
Persistent link: https://www.econbiz.de/10013118672