Growth models, varieties of capitalism and macroeconomics

David Hope and David Soskice

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: Lucio Baccaro and Jonas Pontusson make a significant contribution to comparative political economy with their approach to analyzing growth in advanced economies, which focuses on the demand side of the economy and distributive conflict. In contrast to Baccaro and Pontusson, however, we view their approach as reinforcing recent developments in varieties of capitalism rather than undermining them. We also believe that the type of modern macroeconomics used by (for instance) Carlin and Soskice is better placed than their post-Keynesian framework to analyze growth models, and that their approach is not inconsistent with it. Modern macroeconomic models incorporate, as they do not, a role for the state—including monetary and fiscal policy—and provide a coherent framework within which to analyze both the supply and demand sides of the economy; they also enable us to understand the interactions between economies and hence the role of growth models in global imbalances.

Keywords: growth models; varieties of capitalism; macroeconomics; post-Fordist era (search for similar items in EconPapers)
JEL-codes: N0 (search for similar items in EconPapers)
Date: 2016-06-01
New Economics Papers: this item is included in nep-pke
References: Add references at CitEc
Citations: View citations in EconPapers (22)

Published in Politics & Society, 1, June, 2016, 44(2), pp. 209-226. ISSN: 0032-3292

Downloads: (external link)
http://eprints.lse.ac.uk/66531/ Open access version. (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:66531

Access Statistics for this paper

More papers in LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library LSE Library Portugal Street London, WC2A 2HD, U.K.. Contact information at EDIRC.
Bibliographic data for series maintained by LSERO Manager ().