Artikel
Post-Keynesian macroeconomics since the mid 1990s: main developments
In this paper the main developments in post-Keynesian macroeconomics since the mid 1990s will be reviewed. For this purpose the main differences between heterodox economics in general, including post-Keynesian economics, and orthodox economics will be reiterated and an overview of the strands of post-Keynesian economics, their commonalities and developments since the 1930s will be outlined. This will provide the grounds for touching upon three important areas of development and progress of post-Keynesian macroeconomics since the mid 1990s: first, the integration of distribution issues and distributional conflict into short- and long-run macroeconomics, both in theoretical and in empirical/applied works; second, the integrated analysis of money, finance and macroeconomics and its application to changing institutional and historical circumstances, such as the process of financialisation; and third, the development of full-blown macroeconomic models, providing alternatives to the mainstream 'New Consensus Model' (NCM), and allowing us to derive a full macroeconomic policy mix as a more convincing alternative to the one implied and proposed by the mainstream NCM, which has dramatically failed in the face of the recent crises.
- Language
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Englisch
- Bibliographic citation
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Journal: European Journal of Economics and Economic Policies: Intervention (EJEEP) ; ISSN: 2052-7772 ; Volume: 14 ; Year: 2017 ; Issue: 2 ; Pages: 131-172
- Classification
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Wirtschaft
History of Economic Thought: Macroeconomics
General Aggregative Models: Keynes; Keynesian; Post-Keynesian
- Subject
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post-Keynesian macroeconomics
heterodox vs orthodox economics
pluralism in economics
distribution
money
finance
macroeconomics
macroeconomic policies
- Event
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Geistige Schöpfung
- (who)
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Hein, Eckhard
- Event
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Veröffentlichung
- (who)
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Edward Elgar Publishing
- (where)
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Cheltenham
- (when)
-
2017
- DOI
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doi:10.4337/ejeep.2017.02.01
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Hein, Eckhard
- Edward Elgar Publishing
Time of origin
- 2017
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The rate of interest as a macroeconomic distribution parameter: Horizontalism and Post-Keynesian models of distribution of growth
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Inflation is always and everywhere … a conflict phenomenon: Post-Keynesian inflation theory and energy price driven conflict inflation
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