Details about Mark Setterfield

Homepage:	https://www.newschool.edu/nssr/faculty/Mark-Setterfield/
Phone:	212-229-5717 x3047
Postal address:	Department of Economics New School for Social Research 6 East 16th Street New York, NY 10003 USA
Workplace:	Department of Economics, New School for Social Research, The New School, (more information at EDIRC)

Access statistics for papers by Mark Setterfield.

Last updated 2025-06-08. Update your information in the RePEc Author Service.

Short-id: pse237

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Working Papers

2025

1. Animal Spirits, Keynesian stability, and the relationship between distribution and growth
   Working Papers, New School for Social Research, Department of Economics
2. Distribution and Steady-State Growth Revisited
   Working Papers, New School for Social Research, Department of Economics
3. The COVID pandemic and its aftermath: missed opportunities for avoiding a future of Authoritarian Neoliberalism
   Working Papers, New School for Social Research, Department of Economics
4. Touching from a distance: towards a common conception of equilibrium in Post Keynesian economics
   Working Papers, New School for Social Research, Department of Economics

2024

5. Animal spirits and the Goodwin pattern
   Working Papers, New School for Social Research, Department of Economics View citations (2)
6. Capitalism Evolving: An Introduction to Social Structure of Accumulation Theory
   Working Papers, New School for Social Research, Department of Economics
7. Integrating the Social Reproduction of Labour into Macroeconomic Theory
   Working Papers, New School for Social Research, Department of Economics View citations (2)
8. Managing the Discontent of the Losers Redux: A Future of Authoritarian Neoliberalism or Social Capitalism?
   FMM Working Paper, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute View citations (1)
   Also in Working Papers, New School for Social Research, Department of Economics (2024) View citations (1)
9. The Kalecki-Robinson Tradition in Post-Keynesian Growth Theory
   Working Papers, New School for Social Research, Department of Economics View citations (1)

2023

10. Achieving two policy targets with one policy instrument: heterogeneous expectations, countercyclical fiscal policy, and macroeconomic stabilization at the effective lower bound
    Working Papers, Department of Economics, University of São Paulo (FEA-USP)
    Also in FMM Working Paper, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute (2023)
    Working Papers, New School for Social Research, Department of Economics (2023) View citations (1)
    See also Journal Article Achieving two policy targets with one policy instrument: heterogeneous expectations, countercyclical fiscal policy, and macroeconomic stabilization at the effective lower bound, Review of Evolutionary Political Economy, Springer (2025) (2025)
11. Post-Keynesian growth theory and the supply side: a feminist-structuralist approach
    Working Papers, New School for Social Research, Department of Economics View citations (3)
12. Will hysteresis effects afflict the US economy during the post-COVID recovery?
    Working Papers, New School for Social Research, Department of Economics View citations (1)

2022

13. Harrodians and Kaleckians: a suggested reconciliation and synthesis
    Working Papers, New School for Social Research, Department of Economics
14. Historical Time and the Current State of Post-Keynesian Growth Theory
    Working Papers, New School for Social Research, Department of Economics View citations (1)
15. How Financially Fragile can Households Become? Household Borrowing, the Welfare State, and Macroeconomic Resilienc
    Working Papers, University of Massachusetts Boston, Economics Department
    Also in Working Papers, New School for Social Research, Department of Economics (2022)
    See also Journal Article How financially fragile can households become? Household borrowing, the welfare state, and macroeconomic resilience, Review of Evolutionary Political Economy, Springer (2024) View citations (1) (2024)
16. Inflation and distribution during the post-COVID recovery
    FMM Working Paper, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute
17. Inflation and distribution during the post-COVID recovery: a Kaleckian approach
    Working Papers, New School for Social Research, Department of Economics View citations (2)
    See also Journal Article Inflation and distribution during the post-COVID recovery: a Kaleckian approach, Journal of Post Keynesian Economics, Taylor & Francis Journals (2023) View citations (7) (2023)
18. Is capacity utilization variable in the long run? An agent-based sectoral approach to modeling hysteresis in the normal rate of capacity utilization
    Post-Print, HAL View citations (1)
    Also in Working Papers, New School for Social Research, Department of Economics (2021)
    Working Papers, HAL (2020)
    FMM Working Paper, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute (2020)
    See also Journal Article Is capacity utilization variable in the long run? An agent-based sectoral approach to modeling hysteresis in the normal rate of capacity utilization, Structural Change and Economic Dynamics, Elsevier (2022) View citations (2) (2022)
19. Structural change in the US Phillips curve, 1948-2021: the role of power and institutions
    FMM Working Paper, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute View citations (5)
    Also in Working Papers, Post Keynesian Economics Society (PKES) (2022) View citations (3)
    Working Papers, New School for Social Research, Department of Economics (2022) View citations (5)

2021

20. Contemporary Macroeconomic Outcomes: A Tragedy in Three Acts
    Working Papers, New School for Social Research, Department of Economics
21. Neoliberalism: An entrenched but exhausted growth regime
    Working Papers, New School for Social Research, Department of Economics
    See also Journal Article Neoliberalism: An Entrenched but Exhausted Growth Regime, Ensayos Económicos, Central Bank of Argentina, Economic Research Department (2022) (2022)
22. The network origins of aggregate Fluctuations: A demand-side approach
    FMM Working Paper, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute
    Also in Working Papers, New School for Social Research, Department of Economics (2021)
    See also Journal Article The network origins of aggregate fluctuations: A demand-side approach, Structural Change and Economic Dynamics, Elsevier (2023) View citations (3) (2023)
23. Whatever happened to the 'Goodwin pattern'?
    FMM Working Paper, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute
24. Whatever happened to the 'Goodwin pattern'? Profit Squeeze Dynamics in the Modern American Labour market
    Working Papers, New School for Social Research, Department of Economics View citations (6)
    See also Journal Article Whatever Happened to the ‘Goodwin Pattern’? Profit Squeeze Dynamics in the Modern American Labour Market, Review of Political Economy, Taylor & Francis Journals (2023) View citations (4) (2023)

2020

25. Editorial to the special issue: The monetary economics of Basil J. Moore
    Working Papers, New School for Social Research, Department of Economics
26. On Multi-Sector and Multi-Technique Models, Production Functions and Goodwin Cycles: A Reply to Libman
    Working Papers, New School for Social Research, Department of Economics View citations (2)
    See also Journal Article On multi-sector and multi-technique models, production functions and Goodwin cycles: a reply to Libman, European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing (2020) View citations (2) (2020)
27. Political Aspects of ´Buffer Stock`Employment: A Reconsideration
    FMM Working Paper, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute
28. Political Aspects of ‘Buffer Stock’ Employment: A Reconsideration
    Working Papers, New School for Social Research, Department of Economics View citations (1)

2019

29. Hysteresis in the normal rate of capacity utilization: a behavioural explanation
    Working Papers, New School for Social Research, Department of Economics View citations (6)
    See also Journal Article Hysteresis in the normal rate of capacity utilization: A behavioral explanation, Metroeconomica, Wiley Blackwell (2020) View citations (11) (2020)
30. Tolerable ranges of variation in the rate of capacity utilization and corridor instability: a reply to Florian Botte
    Working Papers, New School for Social Research, Department of Economics View citations (1)

2018

31. Managing the Discontent of the Losers
    Working Papers, New School for Social Research, Department of Economics
    See also Journal Article Managing the discontent of the losers, Review of Social Economy, Taylor & Francis Journals (2020) View citations (5) (2020)
32. Varieties of Capitalism, Increasing Income Inequality, and the Sustainability of Long-Run Growth
    Working Papers, University of Massachusetts Boston, Economics Department
    Also in Working Papers, New School for Social Research, Department of Economics (2018)
    See also Journal Article Varieties of capitalism, increasing income inequality and the sustainability of long-run growth, Cambridge Journal of Economics, Cambridge Political Economy Society (2020) View citations (15) (2020)

2017

33. Is the balance of payments constrained growth rate time-varying? Exchange rate over valuation, policy-induced recessions, deindustrialization, and long run growth
    Working Papers, New School for Social Research, Department of Economics View citations (1)
34. Long-run variation in capacity utilization in the presence of a fixed normal rate
    Working Papers, New School for Social Research, Department of Economics View citations (6)
    See also Journal Article Long-run variation in capacity utilization in the presence of a fixed normal rate, Cambridge Journal of Economics, Cambridge Political Economy Society (2019) View citations (21) (2019)
35. Modern (American) Capitalism: A Three Act Tragedy
    Working Papers, New School for Social Research, Department of Economics
36. Nominal exchange rate shocks and inflation in an open economy: towards a structuralist inflation targeting agenda
    Working Papers, New School for Social Research, Department of Economics View citations (2)
    See also Journal Article Nominal exchange rate shocks and inflation in an open economy: towards a structuralist inflation targeting agenda, Cambridge Journal of Economics, Cambridge Political Economy Society (2020) View citations (14) (2020)
37. Political Aspects of Household Debt
    Working Papers, Department of Economics, University of São Paulo (FEA-USP) View citations (4)
    Also in Working Papers, University of Massachusetts Boston, Economics Department (2017) View citations (4)
    Working Papers, New School for Social Research, Department of Economics (2017) View citations (4)
38. The Great Deception: The 'Science' of Monetary Policy and the Great Moderation Revisited
    Working Papers, Department of Economics, University of São Paulo (FEA-USP)
    Also in Working Papers, New School for Social Research, Department of Economics (2017)
39. Time variation in the size of the multiplier: a Kalecki-Harrod approach
    Working Papers, New School for Social Research, Department of Economics

2016

40. Expectations and Stability in the Kaleckian Growth Model
    Working Papers, New School for Social Research, Department of Economics View citations (2)
41. Household Borrowing and the Possibility of Consumption- Driven, Profit-Led Growth
    Working Papers Series, Institute for New Economic Thinking
    Also in Working Papers, New School for Social Research, Department of Economics (2016)
    See also Journal Article Household borrowing and the possibility of 'consumption-driven, profit-led growth', Review of Keynesian Economics, Edward Elgar Publishing (2017) View citations (9) (2017)
42. Household Borrowing and the Possibility of ``Consumption-Driven, Profit-Led Growth’’
    Working Papers, University of Massachusetts Boston, Economics Department
43. Inflation Targeting and Macroeconomic Stability with Heterogeneous Inflation Expectations
    Working Papers, Department of Economics, University of São Paulo (FEA-USP) View citations (1)
    See also Journal Article Inflation Targeting and Macroeconomic Stability with Heterogeneous Inflation Expectations, Journal of Post Keynesian Economics, Taylor & Francis Journals (2014) View citations (10) (2014)
44. Won’t Get Fooled Again – Or Will We? Monetary Policy, Model Uncertainty, and ‘Policy Model Complacency’
    Working Papers, New School for Social Research, Department of Economics View citations (3)

2015

45. A Simple Analytical Model of the Adverse Real Effects of Inflation
    Working Papers, New School for Social Research, Department of Economics View citations (6)
    See also Journal Article A simple analytical model of the adverse real effects of inflation, Journal of Post Keynesian Economics, Taylor & Francis Journals (2015) View citations (6) (2015)
46. Debt Servicing, Aggregate Consumption, and Growth
    Working Papers Series, Institute for New Economic Thinking
    Also in Working Papers, Trinity College, Department of Economics (2013) View citations (7)
    See also Journal Article Debt servicing, aggregate consumption, and growth, Structural Change and Economic Dynamics, Elsevier (2016) View citations (34) (2016)
47. Heterodox economics, social ontology, and the use of mathematics
    Working Papers, New School for Social Research, Department of Economics View citations (2)
48. Inequality, Debt Servicing, and the Sustainability of Steady State Growth
    Working Papers Series, Institute for New Economic Thinking View citations (1)
    Also in Working Papers, University of Massachusetts Boston, Economics Department (2014) View citations (2)
    Working Papers, New School for Social Research, Department of Economics (2014) View citations (2)
    See also Journal Article Inequality, Debt Servicing and the Sustainability of Steady State Growth, Review of Political Economy, Taylor & Francis Journals (2016) View citations (28) (2016)
49. Intermediation, Money Creation, and Keynesian Macrodynamics in Multi-agent Systems
    Working Papers, New School for Social Research, Department of Economics View citations (1)
    See also Journal Article Intermediation, Money Creation, and Keynesian Macrodynamics in Multi-agent Systems, Review of Political Economy, Taylor & Francis Journals (2018) (2018)
50. Is there scientific progress in macroeconomics? The case of the NAIRU
    Working Papers, New School for Social Research, Department of Economics
    See also Journal Article Is there scientific progress in macroeconomics? The case of the NAIRU, European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing (2020) View citations (4) (2020)
51. Path Dependency
    Working Papers, New School for Social Research, Department of Economics
52. Real and financial crises in the Keynes-Kalecki structuralist model: An agent-based approach
    Working Papers, New School for Social Research, Department of Economics View citations (3)

2014

53. Aggregate structural macroeconomic analysis: a reconsideration and defence
    Working Papers, Davidson College, Department of Economics View citations (1)
    See also Journal Article Aggregate structural macroeconomic analysis: a reconsideration and defence, Cambridge Journal of Economics, Cambridge Political Economy Society (2014) View citations (3) (2014)
54. An essay on horizontalism, structuralism and historical time
    Working Papers, Trinity College, Department of Economics View citations (1)
55. Economic Growth and Development
    Working Papers, Trinity College, Department of Economics
56. Firm performance, macroeconomic conditions, and “animal spirits” in a Post Keynesian model of aggregate fluctuations
    Working Papers, Davidson College, Department of Economics View citations (2)
    See also Journal Article Firm performance, macroeconomic conditions, and “animal spirits” in a Post Keynesian model of aggregate fluctuations, Journal of Post Keynesian Economics, Taylor & Francis Journals (2015) View citations (9) (2015)
57. Multi-Agent Systems as a Tool for Analyzing Path-Dependent Macrodynamics
    Working Papers, Davidson College, Department of Economics View citations (1)
    Also in Working Papers, New School for Social Research, Department of Economics (2014) View citations (1)
    See also Journal Article Multi-agent systems as a tool for analyzing path-dependent macrodynamics, Structural Change and Economic Dynamics, Elsevier (2016) View citations (3) (2016)
58. Real and financial crises: A multi-agent approach
    Working Papers, Trinity College, Department of Economics
59. Rising Income Inequality, Increased Household Indebtedness, and Post Keynesian Macrodynamics
    Working Papers, New School for Social Research, Department of Economics View citations (3)

2013

60. A Theory of Aggregate Consumption
    Working Papers, Trinity College, Department of Economics View citations (4)
    See also Journal Article A theory of aggregate consumption, European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing (2014) View citations (30) (2014)
61. Did CNBC contribute to the Great Moderation or the Great Recession?
    Working Papers, Trinity College, Department of Economics
62. How the Great Moderation Became a (Contained) Depression and What to Do About It
    Working Papers, Trinity College, Department of Economics View citations (3)
63. Using Interest Rates as the Instrument of Monetary Policy: Beware Real effects, Positive Feedbacks, and Discontinuities
    Working Papers, Trinity College, Department of Economics
    See also Journal Article Using Interest Rates as the Instrument of Monetary Policy: Beware Real effects, Positive Feedbacks, and Discontinuities, Ensayos Económicos, Central Bank of Argentina, Economic Research Department (2014) (2014)

2012

64. Aggregate Consumption and Debt Accumulation: An Empirical Examination of US Household Behavior
    Working Papers, Trinity College, Department of Economics
    See also Journal Article Aggregate consumption and debt accumulation: an empirical examination of US household behaviour, Cambridge Journal of Economics, Cambridge Political Economy Society (2015) View citations (27) (2015)
65. Aggregate Structural Macroeconomic Modelling: A Reconsideration and Defence
    Working Papers, Trinity College, Department of Economics View citations (1)
66. Exploring the Supply Side of Kaldorian Growth Models
    Working Papers, Trinity College, Department of Economics
    See also Journal Article Exploring the supply side of Kaldorian growth models, Review of Keynesian Economics, Edward Elgar Publishing (2013) View citations (10) (2013)
67. Real Sector Imbalances and the Great Recession
    Working Papers, Trinity College, Department of Economics View citations (3)

2011

68. The Cost Channel of Monetary Policy in a Post Keynesian Macrodynamic Model of Inflation and Output Targeting
    Working Papers, Trinity College, Department of Economics View citations (3)
69. The Remarkable Durability of Thirlwall’s Law
    Working Papers, Trinity College, Department of Economics View citations (39)
    See also Journal Article The remarkable durability of Thirlwall's Law, PSL Quarterly Review, Economia civile (2011) View citations (39) (2011)
    Chapter The Remarkable Durability of Thirlwall’s Law, Palgrave Macmillan Books, Palgrave Macmillan (2012) View citations (3) (2012)

2010

70. A Keynes-Kalecki Model of Cyclical Growth with Agent-Based Features
    Working Papers, Trinity College, Department of Economics View citations (2)
    See also Chapter A Keynes-Kalecki Model of Cyclical Growth with Agent-Based Features, Palgrave Macmillan Books, Palgrave Macmillan (2011) View citations (6) (2011)
71. Anticipations of the Crisis: On the Similarities Between Post Keynesian Economics and Regulation Theory
    Working Papers, Trinity College, Department of Economics View citations (3)
    See also Journal Article Anticipations of the Crisis: On the Similarities between post-Keynesian Economics and Regulation Theory, Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation (2011) View citations (11) (2011)
72. Endogenous Growth: A Kaldorian Approach
    Working Papers, Trinity College, Department of Economics View citations (14)
73. Hysteresis
    Working Papers, Trinity College, Department of Economics
74. Post-Keynesian Macrodynamics and Path-Dependent Growth
    Working Papers, Trinity College, Department of Economics
    See also Journal Article Post-Keynesian macrodynamics and path-dependent growth, European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing (2011) View citations (8) (2011)
75. Real Wages, Aggregate Demand, and the Macroeconomic Travails of the US Economy: Diagnosis and Prognosis
    Working Papers, Trinity College, Department of Economics View citations (5)

2009

76. Neoclassical Growth Theory and Heterodox Growth Theory: Opportunities For and Obstacles To Greater Engagement
    Working Papers, Trinity College, Department of Economics View citations (6)
    See also Journal Article Neoclassical Growth Theory and Heterodox Growth Theory: Opportunities For (and Obstacles To) Greater Engagement, Eastern Economic Journal, Palgrave Macmillan (2014) View citations (4) (2014)

2008

77. History versus equilibrium? on the possibility and realist basis of a general critique of traditional equilibrium analysis
    Post-Print, HAL View citations (8)
    See also Journal Article History versus equilibrium? on the possibility and realist basis of a general critique of traditional equilibrium analysis, Journal of Post Keynesian Economics, Taylor & Francis Journals (2006) View citations (13) (2006)
78. Stability, equilibrium, and realism: a response to Sardoni
    Post-Print, HAL

2007

79. INFLATION TARGETING AND MACROECONOMIC STABILITY IN A POST KEYNESIAN ECONOMY
    Anais do XXXV Encontro Nacional de Economia [Proceedings of the 35th Brazilian Economics Meeting], ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics] View citations (21)

Journal Articles

2025

1. Achieving two policy targets with one policy instrument: heterogeneous expectations, countercyclical fiscal policy, and macroeconomic stabilization at the effective lower bound
   Review of Evolutionary Political Economy, 2025, 6, (1), 135-155
   See also Working Paper Achieving two policy targets with one policy instrument: heterogeneous expectations, countercyclical fiscal policy, and macroeconomic stabilization at the effective lower bound, Working Papers, Department of Economics (2023) (2023)

2024

2. How financially fragile can households become? Household borrowing, the welfare state, and macroeconomic resilience
   Review of Evolutionary Political Economy, 2024, 5, (1), 121-151 View citations (1)
   See also Working Paper How Financially Fragile can Households Become? Household Borrowing, the Welfare State, and Macroeconomic Resilienc, Working Papers (2022) (2022)

2023

3. Inflation and distribution during the post-COVID recovery: a Kaleckian approach
   Journal of Post Keynesian Economics, 2023, 46, (4), 587-611 View citations (7)
   See also Working Paper Inflation and distribution during the post-COVID recovery: a Kaleckian approach, Working Papers (2022) View citations (2) (2022)
4. Joan Robinson’s historical time and the current state of post-Keynesian growth theory
   Cambridge Journal of Economics, 2023, 47, (5), 965-984 View citations (5)
5. Post-Keynesian growth theory and the supply side: a feminist approach
   European Journal of Economics and Economic Policies: Intervention, 2023, 20, (2), 299-316 View citations (4)
6. The network origins of aggregate fluctuations: A demand-side approach
   Structural Change and Economic Dynamics, 2023, 64, (C), 111-123 View citations (3)
   See also Working Paper The network origins of aggregate Fluctuations: A demand-side approach, FMM Working Paper (2021) (2021)
7. Whatever Happened to the ‘Goodwin Pattern’? Profit Squeeze Dynamics in the Modern American Labour Market
   Review of Political Economy, 2023, 35, (1), 263-286 View citations (4)
   See also Working Paper Whatever happened to the 'Goodwin pattern'? Profit Squeeze Dynamics in the Modern American Labour market, Working Papers (2021) View citations (6) (2021)
8. Will hysteresis effects afflict the US economy during the post-COVID-19 recovery?
   Review of Keynesian Economics, 2023, 11, (4), 507-528 View citations (1)

2022

9. Is capacity utilization variable in the long run? An agent-based sectoral approach to modeling hysteresis in the normal rate of capacity utilization
   Structural Change and Economic Dynamics, 2022, 63, (C), 196-212 View citations (2)
   See also Working Paper Is capacity utilization variable in the long run? An agent-based sectoral approach to modeling hysteresis in the normal rate of capacity utilization, Post-Print (2022) View citations (1) (2022)
10. Neoliberalism: An Entrenched but Exhausted Growth Regime
    Ensayos Económicos, 2022, 1, (79), 131-146
    See also Working Paper Neoliberalism: An entrenched but exhausted growth regime, Working Papers (2021) (2021)

2020

11. Editorial to the special issue
    European Journal of Economics and Economic Policies: Intervention, 2020, 17, (3), 307-312
12. Hysteresis in the normal rate of capacity utilization: A behavioral explanation
    Metroeconomica, 2020, 71, (4), 898-919 View citations (11)
    See also Working Paper Hysteresis in the normal rate of capacity utilization: a behavioural explanation, Working Papers (2019) View citations (6) (2019)
13. Is there scientific progress in macroeconomics? The case of the NAIRU
    European Journal of Economics and Economic Policies: Intervention, 2020, 17, (1), 19-38 View citations (4)
    See also Working Paper Is there scientific progress in macroeconomics? The case of the NAIRU, Working Papers (2015) (2015)
14. Managing the discontent of the losers
    Review of Social Economy, 2020, 78, (1), 77-97 View citations (5)
    See also Working Paper Managing the Discontent of the Losers, Working Papers (2018) (2018)
15. Nominal exchange rate shocks and inflation in an open economy: towards a structuralist inflation targeting agenda
    Cambridge Journal of Economics, 2020, 44, (6), 1271-1299 View citations (14)
    See also Working Paper Nominal exchange rate shocks and inflation in an open economy: towards a structuralist inflation targeting agenda, Working Papers (2017) View citations (2) (2017)
16. On multi-sector and multi-technique models, production functions and Goodwin cycles: a reply to Libman
    European Journal of Economics and Economic Policies: Intervention, 2020, 17, (3), 295-306 View citations (2)
    See also Working Paper On Multi-Sector and Multi-Technique Models, Production Functions and Goodwin Cycles: A Reply to Libman, Working Papers (2020) View citations (2) (2020)
17. Varieties of capitalism, increasing income inequality and the sustainability of long-run growth
    Cambridge Journal of Economics, 2020, 44, (3), 559-582 View citations (15)
    See also Working Paper Varieties of Capitalism, Increasing Income Inequality, and the Sustainability of Long-Run Growth, Working Papers (2018) (2018)

2019

18. Long-run variation in capacity utilization in the presence of a fixed normal rate
    Cambridge Journal of Economics, 2019, 43, (2), 443-463 View citations (21)
    See also Working Paper Long-run variation in capacity utilization in the presence of a fixed normal rate, Working Papers (2017) View citations (6) (2017)
19. Time variation in the size of the multiplier: a Kalecki–Harrod approach
    Review of Keynesian Economics, 2019, 7, (1), 28-42 View citations (4)

2018

20. Austerity: The History of a Dangerous Idea
    Eastern Economic Journal, 2018, 44, (2), 335-336
21. Can monetary policy survive policy model mis†specification? Model uncertainty and the perils of “policy model complacencyâ€
    Metroeconomica, 2018, 69, (1), 2-15
22. Intermediation, Money Creation, and Keynesian Macrodynamics in Multi-agent Systems
    Review of Political Economy, 2018, 30, (2), 154-171
    See also Working Paper Intermediation, Money Creation, and Keynesian Macrodynamics in Multi-agent Systems, Working Papers (2015) View citations (1) (2015)
23. The Macro Pedagogy Debate: Teaching DSGE to Undergraduates Symposium
    The Journal of Economic Education, 2018, 49, (3), 237-241 View citations (2)

2017

24. Household borrowing and the possibility of 'consumption-driven, profit-led growth'
    Review of Keynesian Economics, 2017, 5, (1), 43-60 View citations (9)
    See also Working Paper Household Borrowing and the Possibility of Consumption- Driven, Profit-Led Growth, Working Papers Series (2016) (2016)
25. Wage- versus profit-led growth after 25 years: an introduction to the fourth special issue
    Review of Keynesian Economics, 2017, 5, (3), 303-306 View citations (1)
26. Wage- versus profit-led growth after 25 years: an introduction to the second special issue
    Review of Keynesian Economics, 2017, 5, (1), 1-3 View citations (1)
27. Wage- versus profit-led growth after 25 years: an introduction to the third special issue
    Review of Keynesian Economics, 2017, 5, (2), 143-145 View citations (1)

2016

28. Debt servicing, aggregate consumption, and growth
    Structural Change and Economic Dynamics, 2016, 36, (C), 22-33 View citations (34)
    See also Working Paper Debt Servicing, Aggregate Consumption, and Growth, Working Papers Series (2015) (2015)
29. Inequality, Debt Servicing and the Sustainability of Steady State Growth
    Review of Political Economy, 2016, 28, (1), 45-63 View citations (28)
    See also Working Paper Inequality, Debt Servicing, and the Sustainability of Steady State Growth, Working Papers Series (2015) View citations (1) (2015)
30. Multi-agent systems as a tool for analyzing path-dependent macrodynamics
    Structural Change and Economic Dynamics, 2016, 38, (C), 25-37 View citations (3)
    See also Working Paper Multi-Agent Systems as a Tool for Analyzing Path-Dependent Macrodynamics, Working Papers (2014) View citations (1) (2014)
31. Wage- versus profit-led growth after 25 years: an introduction
    Review of Keynesian Economics, 2016, 4, (4), 367-372 View citations (7)

2015

32. A simple analytical model of the adverse real effects of inflation
    Journal of Post Keynesian Economics, 2015, 38, (4), 637-665 View citations (6)
    See also Working Paper A Simple Analytical Model of the Adverse Real Effects of Inflation, Working Papers (2015) View citations (6) (2015)
33. Aggregate consumption and debt accumulation: an empirical examination of US household behaviour
    Cambridge Journal of Economics, 2015, 39, (1), 93-112 View citations (27)
    See also Working Paper Aggregate Consumption and Debt Accumulation: An Empirical Examination of US Household Behavior, Working Papers (2012) (2012)
34. Firm performance, macroeconomic conditions, and “animal spirits” in a Post Keynesian model of aggregate fluctuations
    Journal of Post Keynesian Economics, 2015, 38, (1), 38-63 View citations (9)
    See also Working Paper Firm performance, macroeconomic conditions, and “animal spirits” in a Post Keynesian model of aggregate fluctuations, Working Papers (2014) View citations (2) (2014)

2014

35. A Guide for " JEE Content" Submissions
    The Journal of Economic Education, 2014, 45, (2), 159-165
36. A theory of aggregate consumption
    European Journal of Economics and Economic Policies: Intervention, 2014, 11, (1), 31-49 View citations (30)
    See also Working Paper A Theory of Aggregate Consumption, Working Papers (2013) View citations (4) (2013)
37. Aggregate structural macroeconomic analysis: a reconsideration and defence
    Cambridge Journal of Economics, 2014, 38, (4), 797-815 View citations (3)
    See also Working Paper Aggregate structural macroeconomic analysis: a reconsideration and defence, Working Papers (2014) View citations (1) (2014)
38. Book review: Anthony P. Thirlwall, Economic Growth in an Open Developing Economy: The Role of Structure and Demand (Edward Elgar, Cheltenham, UK and Northampton, MA, USA 2013) 200 pp
    Review of Keynesian Economics, 2014, 2, (4), 550-552
39. Inflation Targeting and Macroeconomic Stability with Heterogeneous Inflation Expectations
    Journal of Post Keynesian Economics, 2014, 37, (2), 255-279 View citations (10)
    See also Working Paper Inflation Targeting and Macroeconomic Stability with Heterogeneous Inflation Expectations, Working Papers, Department of Economics (2016) View citations (1) (2016)
40. Neoclassical Growth Theory and Heterodox Growth Theory: Opportunities For (and Obstacles To) Greater Engagement
    Eastern Economic Journal, 2014, 40, (3), 365-386 View citations (4)
    See also Working Paper Neoclassical Growth Theory and Heterodox Growth Theory: Opportunities For and Obstacles To Greater Engagement, Working Papers (2009) View citations (6) (2009)
41. The Cost Channel of Monetary Transmission and Stabilization Policy in a Post-Keynesian Macrodynamic Model
    Review of Political Economy, 2014, 26, (2), 258-281 View citations (8)
42. Using Interest Rates as the Instrument of Monetary Policy: Beware Real effects, Positive Feedbacks, and Discontinuities
    Ensayos Económicos, 2014, 1, (70), 7-22
    See also Working Paper Using Interest Rates as the Instrument of Monetary Policy: Beware Real effects, Positive Feedbacks, and Discontinuities, Working Papers (2013) (2013)

2013

43. Exploring the supply side of Kaldorian growth models
    Review of Keynesian Economics, 2013, 1, (1), 22-36 View citations (10)
    Also in Review of Keynesian Economics, 2014, 2, (1), 118-118 (2014)
    See also Working Paper Exploring the Supply Side of Kaldorian Growth Models, Working Papers (2012) (2012)

2012

44. A Kaleckian model of growth and distribution with conflict-inflation and Post Keynesian nominal interest rate rules
    Journal of Post Keynesian Economics, 2012, 34, (3), 497-520 View citations (15)

2011

45. Anticipations of the Crisis: On the Similarities between post-Keynesian Economics and Regulation Theory
    Revue de la Régulation - Capitalisme, institutions, pouvoirs, 2011, 10 View citations (11)
    See also Working Paper Anticipations of the Crisis: On the Similarities Between Post Keynesian Economics and Regulation Theory, Working Papers (2010) View citations (3) (2010)
46. Post-Keynesian macrodynamics and path-dependent growth
    European Journal of Economics and Economic Policies: Intervention, 2011, 8, (2), 299-316 View citations (8)
    See also Working Paper Post-Keynesian Macrodynamics and Path-Dependent Growth, Working Papers (2010) (2010)
47. The remarkable durability of Thirlwall's Law
    PSL Quarterly Review, 2011, 64, (259), 393-427 View citations (39)
    See also Chapter The Remarkable Durability of Thirlwall’s Law, Palgrave Macmillan Books, 2012, 83-110 (2012) View citations (3) (2012)
    Working Paper The Remarkable Durability of Thirlwall’s Law, Working Papers (2011) View citations (39) (2011)

2010

48. Macrodynamics for a Better Society: The Economics of John Cornwall
    Review of Political Economy, 2010, 22, (4), 481-498
49. Macroeconomic Theory and Macroeconomic Pedagogy: A response to some criticisms
    European Journal of Economics and Economic Policies: Intervention, 2010, 7, (2), 271-277
50. Pricing Behaviour and the Cost-Push Channel of Monetary Policy
    Review of Political Economy, 2010, 22, (1), 19-40 View citations (18)

2009

51. A Guide for Submissions to the JEE Content Section
    The Journal of Economic Education, 2009, 40, (3), 262-271
52. An index of macroeconomic performance
    International Review of Applied Economics, 2009, 23, (5), 625-649 View citations (5)
53. Fiscal and monetary policy interactions: lessons for revising the EU Stability and Growth Pact
    Journal of Post Keynesian Economics, 2009, 31, (4), 623-643 View citations (7)
54. Macroeconomics without the LM curve: an alternative view
    Cambridge Journal of Economics, 2009, 33, (2), 273-293 View citations (23)
55. Macroeconomics, endogenous money and the contemporary financial crisis: a teaching model
    International Journal of Pluralism and Economics Education, 2009, 1, (1/2), 130-147 View citations (9)

2008

56. The Political Economy of Interest-Rate Setting, Inflation, and Income Distribution
    International Journal of Political Economy, 2008, 37, (2), 5-25 View citations (17)

2007

57. Are Functional Relations Always the Alter Ego of Humean Laws?
    Review of Political Economy, 2007, 19, (2), 203-217 View citations (2)
58. Interest rates, income distribution, and monetary policy dominance: Post Keynesians and the "fair rate" of interest
    Journal of Post Keynesian Economics, 2007, 30, (1), 13-42 View citations (54)
59. Is There a Stabilizing Role for Fiscal Policy in the New Consensus?
    Review of Political Economy, 2007, 19, (3), 405-418 View citations (21)
60. The rise, decline and rise of incomes policies in the US during the post-war era: an institutional-analytical explanation of inflation and the functional distribution of income
    Journal of Institutional Economics, 2007, 3, (2), 127-146 View citations (35)

2006

61. Aspirations, bargaining power, and macroeconomic performance
    Journal of Post Keynesian Economics, 2006, 29, (1), 117-148 View citations (21)
62. Balancing the Macroeconomic Books on the Backs of Workers: A Simple Analytical Political Economy Model of Contemporary U.S. Capitalism
    International Journal of Political Economy, 2006, 35, (3), 46-63 View citations (18)
63. History versus equilibrium? on the possibility and realist basis of a general critique of traditional equilibrium analysis
    Journal of Post Keynesian Economics, 2006, 29, (2), 191-209 View citations (13)
    See also Working Paper History versus equilibrium? on the possibility and realist basis of a general critique of traditional equilibrium analysis, Post-Print (2008) View citations (8) (2008)
64. Is inflation targeting compatible with Post Keynesian economics?
    Journal of Post Keynesian Economics, 2006, 28, (4), 653-671 View citations (31)

2005

65. Worker Insecurity and U.S. Macroeconomic Performance During the 1990s
    Review of Radical Political Economics, 2005, 37, (2), 155-177 View citations (10)

2004

66. Financial fragility, effective demand and the business cycle
    Review of Political Economy, 2004, 16, (2), 207-223 View citations (10)

2003

67. Capitalist Development in the Twentieth Century: An Evolutionary-KeynesianAnalysis
    Journal of Economic Issues, 2003, 37, (3), 826-828
68. Keynes's dialectic?
    Cambridge Journal of Economics, 2003, 27, (3), 359-376
69. Separate Identity or Post Walrasian Future: Whither Analytical Political Economy?
    International Journal of Political Economy, 2003, 33, (2), 82-86
70. Supply and Demand in the Theory of Long-run Growth: Introduction to a symposium on demand-led growth
    Review of Political Economy, 2003, 15, (1), 23-32 View citations (18)
71. The phillips curve and US macroeconomic performance during the 1990s
    International Review of Applied Economics, 2003, 17, (4), 361-376 View citations (7)
72. What Is Analytical Political Economy?
    International Journal of Political Economy, 2003, 33, (2), 4-16 View citations (1)

2001

73. Cumulative Causation, Interrelatedness and the Theory of Economic Growth: A Reply to Argyrous and Toner
    Cambridge Journal of Economics, 2001, 25, (1), 107-12 View citations (3)

2000

74. Expectations, Endogenous Money, and the Business Cycle: An Exercise in Open Systems Modeling
    Journal of Post Keynesian Economics, 2000, 23, (1), 77-105 View citations (4)

1999

75. Book Review
    Review of Social Economy, 1999, 57, (3), 405-410
76. Expectations, Path Dependence and Effective Demand: A Macroeconomic Model along Keynesian Lines
    Journal of Post Keynesian Economics, 1999, 21, (3), 479-501 View citations (9)

1998

77. Adjustment Asymmetries and Hysteresis in Simple Dynamic Models
    The Manchester School of Economic & Social Studies, 1998, 66, (3), 283-301 View citations (8)
78. Book Reviews
    Review of Social Economy, 1998, 56, (1), 90-93
79. History versus Equilibrium: Nicholas Kaldor on Historical Time and Economic Theory
    Cambridge Journal of Economics, 1998, 22, (5), 521-37 View citations (12)
80. Path Dependency and Animal Spirits: A Reply
    Journal of Post Keynesian Economics, 1998, 21, (1), 167-170 View citations (1)

1997

81. 'History versus Equilibrium' and the Theory of Economic Growth
    Cambridge Journal of Economics, 1997, 21, (3), 365-78 View citations (43)
82. Should Economists Dispense with the Notion of Equilibrium?
    Journal of Post Keynesian Economics, 1997, 20, (1), 47-76 View citations (18)

1993

83. A Model of Institutional Hysteresis
    Journal of Economic Issues, 1993, 27, (3), 755-774 View citations (24)
84. CHANGE OR PERMANENCE? GROWTH AND DEVELOPMENT IN CAPITALIST ECONOMIES
    Review of Income and Wealth, 1993, 39, (2), 217-223
85. Towards a Long-Run Theory of Effective Demand: Modeling Macroeconomic Systems with Hysteresis
    Journal of Post Keynesian Economics, 1993, 15, (3), 347-364 View citations (3)

1992

86. Searching for a will o' the wisp: An empirical study of the NAIRU in Canada
    European Economic Review, 1992, 36, (1), 119-136 View citations (26)

Books

2023

1. Capitalism, Inclusive Growth, and Social Protection
   Books, Edward Elgar Publishing

1997

2. Rapid Growth and Relative Decline
   Palgrave Macmillan Books, Palgrave Macmillan View citations (32)

Edited books

2014

1. After the Great Recession
   Cambridge Books, Cambridge University Press

2013

2. After the Great Recession
   Cambridge Books, Cambridge University Press View citations (36)

2010

3. Handbook of Alternative Theories of Economic Growth
   Books, Edward Elgar Publishing View citations (155)

2009

4. Macroeconomic Theory and Macroeconomic Pedagogy
   Palgrave Macmillan Books, Palgrave Macmillan View citations (41)

2006

5. Complexity, Endogenous Money and Macroeconomic Theory
   Books, Edward Elgar Publishing View citations (43)

2002

6. The Economics of Demand-Led Growth
   Books, Edward Elgar Publishing View citations (257)

1999

7. Growth, Employment and Inflation
   Palgrave Macmillan Books, Palgrave Macmillan View citations (28)

Chapters

2012

1. Faith-based Macroeconomics: A Critique of Recent Developments in NAIRU Estimation
   Chapter 5 in Employment, Growth and Development, 2012
2. Stabilization Policy with an Endogenous Commercial Bank
   Chapter 2 in Monetary Policy and Central Banking, 2012
3. The Remarkable Durability of Thirlwall’s Law
   Palgrave Macmillan View citations (3)
   See also Journal Article The remarkable durability of Thirlwall's Law, Economia civile (2011) View citations (39) (2011)
   Working Paper The Remarkable Durability of Thirlwall’s Law, Trinity College, Department of Economics (2011) View citations (39) (2011)

2011

4. A Keynes-Kalecki Model of Cyclical Growth with Agent-Based Features
   Palgrave Macmillan View citations (6)
   See also Working Paper A Keynes-Kalecki Model of Cyclical Growth with Agent-Based Features, Trinity College, Department of Economics (2010) View citations (2) (2010)
5. Post-Keynesian Interest Rate Rules and Macroeconomic Performance: A Comparative Evaluation
   Chapter 7 in Credit, Money and Macroeconomic Policy, 2011 View citations (2)

2010

6. Endogenous Regional Growth: A Critical Survey
   Chapter 21 in Handbook of Alternative Theories of Economic Growth, 2010 View citations (13)
7. Gender Equality and the Sustainability of Steady State Growth Paths
   Chapter 18 in Handbook of Alternative Theories of Economic Growth, 2010

2009

8. A Simple (and Teachable) Macroeconomic Model with Endogenous Money
   Palgrave Macmillan View citations (10)
9. Macroeconomic Theory and Macroeconomic Pedagogy: An Introduction
   Palgrave Macmillan View citations (3)

2007

10. What is Endogenous Growth Theory?
    Chapter 3 in Economic Growth, 2007 View citations (11)

2006

11. Effective Demand and Endogenous Money in a Path-Dependent Economy: Towards a ‘Moorian’ Credit Supply Curve – and a Reconciliation between Horizontalists and Structuralists?
    Chapter 6 in Complexity, Endogenous Money and Macroeconomic Theory, 2006 View citations (1)
12. Thirlwall’s Law and Palley’s Pitfalls: A Reconsideration
    Chapter 2 in Growth and Economic Development, 2006 View citations (6)

2005

13. Central bank behaviour and the stability of macroeconomic equilibrium: a critical examination of the 'New Consensus'
    Chapter 3 in The New Monetary Policy, 2005 View citations (3)

2004

14. Central Banking, Stability and Macroeconomic Outcomes: A Comparison of New Consensus and Post-Keynesian Monetary Macroeconomics
    Chapter 2 in Central Banking in the Modern World, 2004, pp 35-56

2003

15. Globalization, distributional conflict and inflation: the case of the US economy during the 1990s
    Chapter 3 in Globalisation, Regionalism and Economic Activity, 2003, pp 60-79

2002

16. A Model of Kaldorian Traverse: Cumulative Causation, Structural Change and Evolutionary Hysteresis
    Chapter 12 in The Economics of Demand-Led Growth, 2002 View citations (3)
17. A Neo-Kaldorian Perspective on the Rise and Decline of the Golden Age
    Chapter 5 in The Economics of Demand-Led Growth, 2002 View citations (9)
18. Introduction: A Dissenter's View of the Development of Growth Theory and the Importance of Demand-Led Growth
    Chapter 1 in The Economics of Demand-Led Growth, 2002 View citations (1)

2001

19. John Cornwall: A Brief Appreciation
    Palgrave Macmillan

1999

20. Introduction
    Palgrave Macmillan
21. Modelling a Path-Dependent Economy: Lessons from John Cornwall’s Macrodynamics
    Palgrave Macmillan

1997

22. A Brief History of the British Economy since 1780
    Palgrave Macmillan
23. A Model of Cumulative Causation
    Palgrave Macmillan
24. An Alternative Approach — Modelling with Hysteresis
    Palgrave Macmillan
25. Conclusion
    Palgrave Macmillan
26. Economic Modelling and the Concept of Equilibrium
    Palgrave Macmillan
27. Institutional Hysteresis and the Performance of the British Economy after 1914
    Palgrave Macmillan
28. Technological Interrelatedness and Lock-In in the British Economy, 1870–1930
    Palgrave Macmillan
29. The Supply Side and Macroeconomic Performance I: Technological Evolution
    Palgrave Macmillan
30. The Supply Side and Macroeconomic Performance II: Institutional Evolution
    Palgrave Macmillan

1994

31. Recent developments in growth theory: a post Keynesian view
    Chapter 8 in EMPLOYMENT, GROWTH AND FINANCE, 1994, pp 112-127