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Alternative uses of functional finance : Lerner, MMT and the Sraffiansh

Summa, Ricardo de Figueiredo - 2022

In the present paper, we will construct three comparable 'toy models' to evaluate the alternative uses of functional finance from Lerner, MMT, and the Sraffians. First, we will argue that the general functional finance framework can be separated from the specific views of Lerner on how the...

Persistent link: https://www.econbiz.de/10012939156

Karl Marx : an early post-Keynesian? : a comparison of Marx's economics with the contributions by Sraffa, Keynes, Kalecki and Minsky

Hein, Eckhard - 2019

This paper compares Marx's economics with those by Sraffa, Keynes, Kalecki and Minsky. The paper takes an "ex post" view on the matter and rather looks at the output side of the respective authors, but not at the input side. This means no attempt is made at studying in a systematic way, if and...

Persistent link: https://www.econbiz.de/10011994938

Some Kaleckian remarks on modern monetary theory in light of a paper by Drumetz/Pfister

Sawyer, Malcolm C. - In: European journal of economics and economic policies : … 20 (2023) 1, pp. 67-77

This paper provides remarks on modern monetary theory (MMT) from a Kaleckian perspective in response to a paper by Drumetz/Pfister. The distinction between initial financing and final financing is drawn up to argue for clear separation of how expenditure is financed and funded, and pointing to...

Persistent link: https://www.econbiz.de/10014433717

Prolegomena to realistic monetary macroeconomics : a theory of intelligible sequences

Godley, Wynne (contributor); Lavoie, Marc (contributor) - 2006

This paper sets out a rigorous basis for the integration of Keynes-Kaleckian macroeconomics (with constant or increasing returns to labor, multipliers, mark-up pricing, etc.) with a model of the financial system (comprising banks, loans, credit money, equities, etc.), together with a model of...

Persistent link: https://www.econbiz.de/10003288355

Structural Change in Post Keynesian Monetary Theory : A Non-Compensatory Disequilibrium Framework

Túñez Area, Narciso - 2021

Post Keynesian Economics has shifted away and even renegade from Keynes' original research program, i.e., the Unemployment Equilibrium thesis, endogenous money and liquidity preference determination of interest rate in which money and uncertainty play a fundamental part. This paper attempts to...

Persistent link: https://www.econbiz.de/10013217147

Factor shares and income inequality : empirical evidence from Germany 2002 - 2008

Adler, Martin; Schmid, Kai D. - 2012

We examine the interplay between changes in the functional distribution of income and the distribution of market income among households. We use micro data from the German Socio-Economic Panel as well as macro data from the German Federal Statistical Office from 2002 to 2008. We categorize and...

Persistent link: https://www.econbiz.de/10009751309

Income distribution macroeconomics

Giovannoni, Olivier - 2014

Recent research stresses the macroeconomic dimension of income distribution, but no theory has yet emerged. In this note, we introduce factor shares into popular growth models to gain insights into the macroeconomic effects of income distribution. The cost of modifying existing models is low...

Persistent link: https://www.econbiz.de/10010360021

Income distribution and current account imbalances

Behringer, Jan; Theobald, Thomas; Treeck, Till van - 2013

personellen Einkommensverteilung auf nationale Leistungsbilanzsalden zu analysieren. Im Modell hat jedes Land einen Haushalts- und … Einkommensverteilung und dem institutionellen Umfeld erklärt werden kann. Hingegen wird die verhältnismäßige schwache Binnennachfrage in … Deutschland und China seit Mitte der 1990er Jahre maßgeblich durch Verschiebungen in der funktionalen Einkommensverteilung zu …

Persistent link: https://www.econbiz.de/10010201629

Income distribution and the Great Depression

Belabed, Christian A. - 2015

There is a growing literature comparing the current financial crisis or Great Recession to the worst economic crisis of capitalism, the Great Depression. However, the role of rising income inequality, which has risen dramatically before both crises, is rarely discussed. In this paper we discuss...

Persistent link: https://www.econbiz.de/10011289390

La Frontera de Distribución en Colombia (The Distribution Frontier in Colombia)

García Molina, Mario - 2011

The Distribution Frontier is calculated for the Colombian economy using the 2005 supply and utilization matrixes data of goods in current prices. A basic model of circular capital is used based upon Sraffa (1960), Pasinetti (1986), and Muñoz and Riaño (1992). The frontier was calculated for...

Persistent link: https://www.econbiz.de/10013123769