Review of Keynesian Economics

2013 - 2025

Current editor(s): Thomas Palley, Matías Vernengo and Esteban Pérez Caldentey

From Edward Elgar Publishing
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Volume 13, issue 1, 2025

The Godley–Tobin Memorial Lecture pp. 1-20

Antonella Stirati

Credit-financed household consumption and the debt service ratio: tackling endogenous autonomous demand in the supermultiplier model pp. 21-50

Joana David Avritzer and Lídia Brochier

The incidence of tax rates on workers’ debt stability and demand regimes pp. 51-70

Clara Zanon Brenck

Interest rate and endogenous money under capital mobility and fixed exchange rate: alternative closures and implications pp. 71-93

Zico Dasgupta

Exploring counter-cyclical monetary policy in a small open economy using the portfolio balance approach pp. 94-111

Carlos Eduardo Drumond and Arslan Razmi

Between Scylla and Charybdis: long-term drivers of EU structural vulnerability pp. 112-140

Dario Guarascio, Jelena Reljic, Giacomo Cucignatto, Annamaria Simonazzi and Giuseppe Celi

Book review: Ashwani Saith, Cambridge Economics in the Post-Keynesian Era: The Eclipse of Heterodox Traditions (Palgrave Studies in the History of Economic Thought, Palgrave Macmillan, Cham, Switzerland 2022) 1188 pp pp. 141-145

Mohit Arora

Book review: Eckhard Hein, Macroeconomics After Kalecki and Keynes: Post-Keynesian Foundations (Edward Elgar Publishing, Cheltenham, UK and Northampton, MA, USA 2023) 282 pp pp. 146-149

Carlo D’Ippoliti

Volume 12, issue 4, 2024

Political economy of peace and war pp. 284-292

Robert Skidelsky

Notes on the political economy of war pp. 293-307

Wolfgang Streeck

The military–industrial complex as a variety of capitalism and threat to democracy: rethinking the political economy of guns versus butter pp. 308-347

Thomas Palley

The US National Security State and Big Tech: frenemy relations and innovation planning in turbulent times pp. 348-364

Cecilia Rikap

Centralization of capital and economic conditions for peace pp. 365-384

Emiliano Brancaccio, Raffaele Giammetti and Stefano Lucarelli

Navigating geoeconomics in a new era of US–China relationship pp. 385-395

Keyu Jin

Reimagining the global economic order pp. 396-407

Dani Rodrik

The gift of sanctions: an analysis of assessments of the Russian economy, 2022–2023 pp. 408-422

James K. Galbraith

Are jobless recoveries history? Okun’s law, insufficient stimulus, and slow recoveries pp. 435-452

Gabriel Mathy

Considerations on inflation, economic growth, and the 2 per cent inflation target pp. 453-474

Robert Pollin and Hanae Bouazza

Demand-led growth under political constraints: a long-run model of conflict inflation pp. 475-498

Guilherme Spinato Morlin and Riccardo Pariboni

Hysteresis and the long shadow of the exchange rate regime pp. 499-517

Thomas Barnebeck Andersen

The effect of fiscal austerity on citizens’ trust in the European Union pp. 518-537

Giorgio Liotti, Rajmund Mirdala and Luigi Salvati

Autonomous demand and economic growth in Mexico (1993–2019): theory and empirics in a small, open and peripheral economy pp. 538-561

Maria Cristina Barbieri Góes, Santiago José Gahn and Ettore Gallo

Book review: Perry Mehrling, Money and Empire: Charles P. Kindleberger and the Dollar System (Cambridge University Press, Cambridge, UK 2022) 298 pp pp. 562-563

Gonzalo Luis Fernánde

Book review: Peter Skott, Structuralist and Behavioral Macroeconomics (Cambridge University Press, Cambridge, UK 2023) 384 pp pp. 564-567

Marwil J. Dávila-Fernandez

Volume 12, issue 3, 2024

Introduction: the challenge of political economy of war and peace (especially in a time of war) pp. 275-277

Raffaele Giammetti and Thomas Palley

Beyond the age of hegemony pp. 278-283

Jeffrey Sachs

Volume 12, issue 2, 2024

Robert Solow, eclectic American Keynesianism, and the Review of Keynesian Economics pp. 153-156

Matías Vernengo

Introduction pp. 157-158

Esteban Pérez Caldentey, Julia Braga and Thomas Palley

The different roles of liquidity and capital in preventing financial crises: insights from a Post-Keynesian model pp. 159-180

Peter Docherty

Theorising non-bank financial intermediation pp. 181-196

Jo Michell

Liquidity, solvency and regulation in the Classical–Keynesian theory of crises pp. 197-219

Carlo Panico

Optimal inflation targeting with anchoring pp. 220-238

Thomas Michl and Robert Rowthorn

The Argentine economy through the lens of an adapted Mundell–Fleming model for small open peripheral economies pp. 239-264

Ariel Dvoskin, German Feldman and Matías Torchinsky Landau

Book review: Lucio Baccaro, Mark Blyth and Jonas Pontusson (eds), Diminishing Returns: The New Politics of Growth and Stagnation (Oxford University Press, Oxford, UK 2022) 541 pp pp. 265-269

Eduardo F. Bastian

Book review: Martin Wolf, The Crisis of Democratic Capitalism (Penguin Books/Allen Lane, London, UK 2023) 474 pp pp. 270-273

Engelbert Stockhammer

Volume 11, issue 4, 2023

Hysteresis and path dependence in economic analysis: formalizations, causes and implications pp. 435-459

Amitava Dutt

Broadening the application of hysteresis in economics: institutions, policy lock-in, psychology, identity, and ideas pp. 460-488

Thomas Palley

Revisiting the hysteresis hypothesis: an ARIMAX approach pp. 489-506

Robert Calvert Jump and Engelbert Stockhammer

Will hysteresis effects afflict the US economy during the post-COVID-19 recovery? pp. 507-528

Mark Setterfield

Central Bank Digital Currencies: a proper reaction to private digital money? pp. 529-553

Sergio Cesaratto and Eladio Febrero

Secular stagnation: a Classical–Marxian view pp. 554-584

Manuel David Cruz and Daniele Tavani

Book review: Dong Wang and Dejun Cao, Re-Globalisation: When China Meets the World Again (Routledge, London, UK 2020, ISBN 978-1-0031-2693-5) 168 pp pp. 585-587

Oktay Özden

Book review: Louis-Phillipe Rochon and Sergio Rossi (eds), Elgar Encyclopedia of Post-Keynesian Economics (Edward Elgar Publishing, Cheltenham, UK and Northampton, MA, USA 2023, hardcover, ISBN 978-1-78897-392-2, US$305.00) 474 pp pp. 588-590

Ivan D. Velasquez

Volume 11, issue 3, 2023

Critical notes on some recent Neo-Kaleckian contributions on capacity utilization pp. 261-289

Santiago José Gahn

Pure Harrodian dynamics: heterogeneous expectations and the loss of three established propositions pp. 290-327

Reiner Franke

A sectoral perspective on the persistence of economic sentiment: mere transitory effect or a long memory process? pp. 328-349

Ivana Lolić, Petar Sorić and Marija Logarušić

Growth trajectories and political economy in a Structuralist open economy model pp. 350-376

Gabriel Porcile, Danilo Spinola and Giuliano Yajima

The effect of public social expenditure on imports pp. 377-399

Carlos Garcimartín, Arnoldo Lopez Marmolejo and Carlos Eggers

Why the conventional test of Thirlwall’s law is still not a ‘near-tautology’: a rejoinder to Professor Blecker pp. 400-415

John S.L. McCombie

On empirical tests of Thirlwall’s law: a reply to Professor McCombie’s rejoinder pp. 418-426

Robert Blecker

Book review: Charles J. Whalen, Reforming Capitalism for the Common Good: Essays in Institutional and Post-Keynesian Economics (Edward Elgar Publishing, Cheltenham, UK and Northampton, MA, USA 2022, ISBN 978-1-80392-628-5) 386 pp pp. 427-429

Jacob Powell

Book review: Aleksandr V. Gevorkyan (ed.), Foreign Exchange Constraint and Developing Economies (Edward Elgar Publishing, Cheltenham, UK and Northampton, MA, USA 2023, ISBN 978-1-80088-049-8) 278 pp pp. 430-434

Terence M. Yhip

Volume 11, issue 2, 2023

The first inflation problem of the twenty-first century pp. 117-128

Brad DeLong

Price and prejudice: reflections on the return of inflation and ideology*, ** pp. 129-146

Matías Vernengo and Esteban Pérez Caldentey

Inflation phobia, myths and dogma exacerbate policy responses* pp. 147-171

Anis Chowdhury and Jomo Kwame Sundaram

The quasi-inflation of 2021–2022: a case of bad analysis and worse response pp. 172-182

James K. Galbraith

Sellers’ inflation, profits and conflict: why can large firms hike prices in an emergency? pp. 183-213

Isabella M. Webe and Evan Wasner

Recession and deflation? pp. 214-231

David Blanchflower and Alex Bryson

Book review: James Crotty, Keynes Against Capitalism: His Economic Case for Liberal Socialism (Routledge, London, UK 2019) ISBN: 978-1138612846, 397 pp pp. 252-255

Matías Vernengo

Book review: Jonathan Levy, Ages of American Capitalism: A History of The United States (Random House, New York, NY, USA 2021) ISBN 978-0812995015, 944 pp pp. 256-259

Syed Mohib Ali

Volume 11, issue 1, 2023

The Godley–Tobin Memorial Lecture pp. 1-9

Paul Krugman

Mind the wage gap: an empirical analysis of the impact of labour income inequality on economic growth* pp. 10-30

Rebecca Gramiscelli Hasparyk, Rafael Saulo Marques Ribeiro and Ana Bottega

Asset market closure and the neo-Pasinetti theorem pp. 100–104

Thomas Michl

Inflation dynamics: forward or backward looking? pp. 31-51

Huiqing Li

Joan Robinson’s Phillips curve pp. 52-71

Ian M. McDonald

Long-run effective demand and residential investment: a Sraffian supermultiplier based analysis* pp. 72-99

Lucas Teixeira and Gabriel Petrini

Asset market closure and the neo-Pasinetti theorem – a comment pp. 105-108

Peter Skott

Book review: Domenica Tropeano, Financial Regulation in the European Union after the Crisis. A Minskian Approach (Routledge, New York, NY, USA 2018) 173 pp pp. 109-111

Victor Isidro Luna

Book review: Thomas Palley, Neoliberalism and the Road to Inequality and Stagnation: A Chronicle Foretold (Edward Elgar Publishing, Cheltenham, UK and Northampton, USA 2021, ISBN: 978180220 0072) 320 pp pp. 112-115

André Roncaglia de Carvalho