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Fiscal policy has a strong role to play in the transition to an ecologically sustainable economy. This paper critically discusses the way that green fiscal policy has been analysed in both conventional and post-Keynesian approaches. It then uses a recently developed post-Keynesian ecological...
Persistent link: https://www.econbiz.de/10012609069
Using an ecological macrofinancial model, we explore the potential impact of the "green supporting factor" (GSF) and the "dirty penalising factor" (DPF) on climate-related financial risks. We identify the transmission channels by which these green differentiated capital requirements (GDCRs) can...
Persistent link: https://www.econbiz.de/10012668963
The purpose of this paper is to develop Minskyan financial fragility indices for the government sector and to examine the financial structure of the Greek government before and after the onset of the sovereign debt crisis in 2009. We provide empirical evidence that clearly shows the growing...
Persistent link: https://www.econbiz.de/10010761404
This paper develops a multi-country post-Kaleckian demand-led growth model that incorporates the role of the government. One novelty of this paper is to integrate crosscountry effects of both changes in income distribution and fiscal policy. The model is used to estimate econometrically the...
Persistent link: https://www.econbiz.de/10011891338
This paper develops a stock-flow consistent macrodynamic model in which firms’ and banks’ desired margins of safety play a central role in macroeconomic performance. The model incorporates an active banking sector and pays particular attention to the leverage of both firms and banks. It is...
Persistent link: https://www.econbiz.de/10011077114
This paper intends to contribute to the contemporary discussions about Minsky's economics by reviewing how the key ideas of Minsky have been formalised in the heterodox literature over the last three decades or so. First, a distinction is made between the different models based on (a) the source...
Persistent link: https://www.econbiz.de/10014363295
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Addressing the climate crisis requires a deep socio-ecological transformation of our economies. This transformation involves the implementation of climate policies that not only transform standard macroeconomic and financial tools but also lead to sufficiency-based consumption patterns. The...
Persistent link: https://www.econbiz.de/10014363462