By L. Randall Wray, Mathew Forstater, INTERNATIONAL POST KEYNESIAN WORKSHOP 20
Unique articles by means of major students of publish Keynesian economics make up this authoritative assortment. present themes of the best curiosity are coated, reminiscent of: views on present fiscal coverage; publish Keynesian ways to financial idea and coverage; monetary improvement, development and inflation; Kaleckian views on distribution; fiscal method; and background of heterodox fiscal conception. The members discover numerous winning matters together with: salary bargaining and fiscal coverage within the EMU; the which means of cash within the web age; balance stipulations for small open economies; and financial guidelines of sustainable improvement in international locations transitioning to a industry financial system. different enduring issues are tested during the lens of monetary theorists - Kaleckian dynamics and evolutionary lifestyles cycles; a comparability among Keynes's and Hayek's fiscal theories; and an research of the ability of the company in line with the paintings of Joan Robinson, to call a couple of. scholars and students of publish Keynesian economics and people with an curiosity in different heterodox faculties of suggestion will locate this enlightening quantity a helpful addition to their analyzing.
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Extra resources for Contemporary Post Keynesian Analysis: Keyensian Analysis (Contemporary Post Keynesian Analysis)
Sample text
When the cheques received by private (individual or corporate) citizens are deposited in their accounts with commercial banks, the balance sheet of the latter is increased by an equal amount on the liabilities side (to the depositors) and on the assets side (since commercial banks now hold government money). It follows that the recipient banks’ reserves with the Central Bank will increase. It is well known from the literature on money and banking that such reserves (government money) do not pay interest whereas government bonds do.
And H. Kum (2002), ‘Inequality and economic growth: data comparisons and econometric tests’, University of Texas at Austin working paper no. 21, Austin, TX. , and M.
2002b), ‘Monetary policy and wage bargaining in the EMU: restrictive ECB policies, high unemployment, nominal wage restraint and inflation above the target’, Banca Nazionale del Lavoro Quarterly Review, 55, 299–337. , and C. Ochsen (2003), ‘Regimes of interest rates, income shares, savings, and investment: a Kaleckian model and empirical estimations for some advanced OECD-economies’, Metroeconomica, 54 (4), 404–33. , and A. , WSI in der Hans Boeckler Stiftung discussion paper no. 107, Düsseldorf.