Showing 1 - 10 of 249,099
Persistent link: https://www.econbiz.de/10009511889
This paper presents a re-interpretation of a New Keynesian model with capital, where zero long-run output gap restriction is eliminated and a certain type of assumption regarding risk-less nominal interest rate is adopted
Persistent link: https://www.econbiz.de/10013010835
Post Keynesian (PK) growth models typically fail to model unemployment. That shows up in the absence of any equilibrium condition requiring the growth of employment equal effective labor supply growth. Consequently, the models can have an imploding or exploding unemployment rate. The underlying...
Persistent link: https://www.econbiz.de/10011926923
We outline and simulate a stylised post-Keynesian two country stock-flow consistent model to demonstrate the interconnection of three of the main features/outcomes of finance-dominated capitalism, namely worsening income distribution for the bottom 90% households, the rise of international...
Persistent link: https://www.econbiz.de/10012696153
The paper combines Baumol's model of structural change with a model of aggregate demand growth in the Keynesian-Kaleckian tradition to predict the dynamics of aggregate employment. The model for the demand regime is estimated with - and Baumol's model for the productivity regime is calibrated on...
Persistent link: https://www.econbiz.de/10010197410
This paper discusses the treatment of growth as a path-dependent process in Post-Keynesian macrodynamics. A synthetic Post-Keynesian growth model is used to demonstrate the ways in which growth can be described as path dependent in the Post-Keynesian tradition. Recent developments in...
Persistent link: https://www.econbiz.de/10010614798
This paper discusses the treatment of growth as a path-dependent process in post-Keynesian macrodynamics. A synthetic post-Keynesian growth model is used to demonstrate the ways in which growth can be described as path-dependent in the post-Keynesian tradition. Recent developments in...
Persistent link: https://www.econbiz.de/10010711792
This paper discusses the treatment of growth as a path-dependent process in post-Keynesian macrodynamics. A synthetic post-Keynesian growth model is used to demonstrate the ways in which growth can be described as path-dependent in the post-Keynesian tradition. Recent developments in...
Persistent link: https://www.econbiz.de/10014363128
We propose a theoretical framework to reconcile episodes of V-shaped and L-shaped recovery, encompassing the behaviour of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks destroy productive capacity, moving GDP to a lower...
Persistent link: https://www.econbiz.de/10012533939
Into an analytical stock-flow consistent Post-Kaleckian distribution and growth model the following transmission channels of 'financialisaton' are integrated. 1. 'Financialisation' is assumed to affect distribution between firms and rentiers in the short run, and distribution between capital and...
Persistent link: https://www.econbiz.de/10003836933