Review of Keynesian Economics

2012 - 2025

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

From Edward Elgar Publishing
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Volume 5, issue 4, 2017

Critical thinking within a multi-paradigmatic approach: introduction to the symposium on innovations in heterodox economics education pp. 493–502

Geoffrey Schneider and Daniel A. Underwood

Teaching the Greek crisis (and more) from the perspectives of competing models pp. 503–518

John Harvey

The use of dichotomies in introductory economics pp. 519–532

Mathieu Dufour and Ian Seda-Irizarry

Enriching undergraduate economics: curricular and pedagogical integration of heterodox approaches from within pp. 533–550

Tara Natarajan

Blasphemy in the classroom: in search of microeconomics textbooks for heterodox instructors pp. 551–562

Erik Dean and Mitchell R. Green

The road they share: the social conflict element in Marx, Keynes and Kalecki pp. 563–575

Pablo Bortz

From Marx to the Keynesian revolution: the key role of finance pp. 576–585

Jan Toporowski

Estimating Keynesian models of business fluctuations using Bayesian Maximum Likelihood pp. 586–630

Christian Schoder

Debt and investment in the Keen model: a reappraisal of modelling Minsky pp. 631–647

Antonin Pottier and Adrien Nguyen-Huu

Book review: Joseph E. Stiglitz, The Euro: How a Common Currency Threatens the Future of Europe (W.W. Norton, New York, NY, USA 2016)416 pp.; and Markus K. Brunnermeier, Harold James and Jean-Pierre Landau, The Euro and the Battle of Ideas (Princeton University Press, Princeton, NJ, USA 2016) 440 pp pp. 648–651

Steven Pressman

Book review: Michael Jacobs and Mariana Mazzucato (eds), Rethinking Capitalism: Economics and Policy for Sustainable and Inclusive Growth (Wiley-Blackwell, Oxford, UK 2016) 224 pp pp. 652–655

Melanie G. Long

Volume 5, issue 3, 2017

Wage- versus profit-led growth after 25 years: an introduction to the fourth special issue pp. 303-306

Mark Setterfield

Wage-led, debt-led growth in an open economy pp. 307-335

Esteban Perez Caldentey and Matías Vernengo

Weaknesses of 'wage-led growth' pp. 336-359

Peter Skott

Wages, prices, and employment in a Keynesian long run pp. 360-425

Stephen A. Marglin

Wage- and profit-led regimes under modern finance: an exploration pp. 426-438

Amit Bhaduri and Srinivas Raghavendra

Did fiscal consolidation cause the double-dip recession in the euro area? pp. 439-458

Philipp Heimberger

Macroeconomic imbalances and the eurozone crisis: the impact of credit expansion on asset prices pp. 459-480

Gökçer Özgür and Emel Memis¸

Book review: Carl Chiarella, Peter Flaschel and Willi Semmler, Reconstructing Keynesian Macroeconomics (Volume 1: Partial Perspectives, 2012, 400 pp.; Volume 2: Integrated Approaches, 2013, 512 pp.; Volume 3: Macroeconomic Activity, Banking and Financial Markets, 2015, 390 pp.; Routledge, Abingdon, UK and New York, NY, USA) pp. 481-488

Matheus R. Grasselli

Book review: Tarron Khemraj, Money, Banking and the Foreign Exchange Market in Emerging Economies (Edward Elgar, Cheltenham, UK and Northampton, MA, USA 2014) 162 pp pp. 489-492

Francisco Martinez-Hernandez

Volume 5, issue 2, 2017

Wage- versus profit-led growth after 25 years: an introduction to the third special issue pp. 143-145

Mark Setterfield

Inequality and growth in neo-Kaleckian and Cambridge growth theory pp. 146-169

Thomas Palley

Income inequality, the wage share, and economic growth pp. 170-195

Amitava Dutt

Longer-run distributive cycles: wavelet decompositions for the US, 1948–2011 pp. 196-217

José Barrales and Rudiger von Arnim

The Bhaduri–Marglin post-Kaleckian model in the history of distribution and growth theories: an assessment by means of model closures pp. 218-238

Eckhard Hein

Government spending composition, aggregate demand, growth, and distribution pp. 239-258

Daniele Tavani and Luca Zamparelli

Wage increases, transfers, and the socially determined income distribution in the USA pp. 259-275

Lance Taylor, Armon Rezai, Rishabh Kumar, Nelson Barbosa-Filho and Laura Barbosa de Carvalho

Real-wage versus wage-share targets in an open-economy model of the wage and price dynamics pp. 276-299

Søren Harck

Book review: Jean-Luc Bailly, Alvaro Cencini and Sergio Rossi (eds), Quantum Macroeconomics: The Legacy of Bernard Schmitt (Routledge, London, UK and New York, NY, USA 2017) 202 pp pp. 300-301

Andrea Carrera

Volume 5, issue 1, 2017

Wage- versus profit-led growth after 25 years: an introduction to the second special issue pp. 1-3

Mark Setterfield

Bhaduri–Marglin meet Kaldor–Marx: wages, productivity and investment pp. 4-24

Servaas Storm and C.W.M. Naastepad

Wage-led versus profit-led demand: what have we learned? A Kaleckian–Minskyan view pp. 25-42

Engelbert Stockhammer

Household borrowing and the possibility of 'consumption-driven, profit-led growth' pp. 43-60

Mark Setterfield and Yk Kim

Profit-led growth and the stock market pp. 61-77

Thomas Michl

Finance and distribution pp. 78-93

Ramaa Vasudevan

Pension funding in a Keynesian model of growth pp. 94-106

Codrina Rada

The WHO warns of outbreak of virulent new 'Economic Reality' virus pp. 107-111

Steve Keen

Functional finance and intergenerational distribution in neoclassical and Keynesian OLG models pp. 112-134

Peter Skott and Soon Ryoo

Book review: Bob Jessop, Brigitte Young and Christoph Scherrer (eds), Financial Cultures and Crisis Dynamics (Routledge, London, UK and New York, NY, USA 2015) 320 pp pp. 135-138

Michael G. Kraft

Book review: David Tuckett, Minding the Markets: An Emotional View of Financial Instability (Palgrave Macmillan, Basingstoke, UK, New York, NY, USA and Melbourne, Australia 2011) 232 pp pp. 139-141

Philip Pilkington

Volume 4, issue 4, 2016

Wage- versus profit-led growth after 25 years: an introduction pp. 367-372

Mark Setterfield

Wage-led versus profit-led demand regimes: the long and the short of it pp. 373-390

Robert Blecker

Distribution-led growth in the long run pp. 391-408

Michalis Nikiforos

Autonomous demand and the Marglin–Bhaduri model: a critical note pp. 409-428

Riccardo Pariboni

Growth and distribution in low-income economies: modifying post-Keynesian analysis in light of theory and history pp. 429-449

Arslan Razmi

Can growth be wage-led in small open developing economies? pp. 450-457

Jaime Ros

Wage- versus profit-led growth in the context of globalization and public spending: the political aspects of wage-led recovery pp. 458-474

Ozlem Onaran

What caused the great inflation moderation in the US? A post-Keynesian view pp. 475-502

Nathan Perry and Nathaniel Cline

The theory of output in the modern classical approach: main principles and controversial issues pp. 503-522

Attilio Trezzini and Antonella Palumbo

Book review: Alvaro Cencini and Sergio Rossi, Economic and Financial Crises: A New Macroeconomic Analysis (Palgrave Macmillan, New York, NY, USA 2015) 296 pp pp. 523-526

Edoardo Beretta

Book review: John T. Harvey, Contending Perspectives in Economics: A Guide to Contemporary Schools of Thought (Edward Elgar, Cheltenham, UK and Northampton, MA, USA 2015) 168 pp pp. 527-531

Paramjit Singh

Book review: Eswar Prasad, The Dollar Trap: How the US Dollar Tightened its Grip on Global Finance (Princeton University Press, Princeton, NJ, USA 2014) 432 pp pp. 532-535

Adrien Faudot

Volume 4, issue 3, 2016

Introduction: the theoretical legacy of Augusto Graziani pp. 243-249

Riccardo Bellofiore and Marco Veronese Passarella

Augusto Graziani and general economic equilibrium: from statics to dynamics pp. 250-263

Mario Pomini

Credit supply, credit demand and unemployment in the mode of Augusto Graziani pp. 264-278

Guglielmo Forges Davanzati

Augusto Graziani's Equilibrio generale ed equilibrio macroeconomico: a key milestone in a long journey out of the neoclassical mainstream pp. 279-302

Massimo Cingolani

Graziani's analysis of the circuit: does it extend to the era of financialisation? pp. 303-315

Malcolm Sawyer

Joan Robinson's Accumulation of Capital after 60 years pp. 316-330

J.E. King

Reflecting on new developmentalism and classical developmentalism pp. 331-352

Luiz Carlos Bresser-Pereira

Book review: Eckhard Hein, Distribution and Growth after Keynes: A Post-Keynesian Guide (Edward Elgar, Cheltenham, UK and Northampton, MA, USA 2014) 576 pp pp. 353-356

Javier López Bernardo

Book review: Thomas I. Palley, Financialization: The Economics of Finance Capital Domination (Palgrave Macmillan, Basingstoke, UK, New York, USA and Melbourne, Australia 2013) 248 pp pp. 357-359

Ozgur Orhangazi

Book review: Cyrus Bina, A Prelude to the Foundation of Political Economy: Oil, War, and Global Polity (Palgrave Macmillan, Basingstoke, UK and New York, USA 2013) 260 pp pp. 360-362

Payam Sharifi

Book review: Sara Hsu, Financial Crises, 1929 to the Present (Edward Elgar, Cheltenham, UK and Northampton, MA, USA 2013) 192 pp pp. 363-365

Eric Tymoigne

Volume 4, issue 2, 2016

Macroeconomic effects of household debt: an empirical analysis pp. 127-150

Yk Kim

Growth and distribution after the 2007–2008 US financial crisis: who shouldered the burden of the crisis? pp. 151-174

Mathieu Dufour and Ozgur Orhangazi

A useful framework for linking labor and goods markets: Okun's law and its stability revisited pp. 175-192

Mustafa Ismihan

Inconsistency and over-determination in balance-of-payments-constrained growth models: a note pp. 193-200

José Luís Oreiro

Keen on endogenous money and effective demand: a further comment pp. 201-207

Severin Reissl

Underconsumption, capitalist investment and crisis: a reply to Sardoni pp. 208-218

Deepankar Basu

Marxian theories of crises: a rejoinder pp. 219-223

Claudio Sardoni

A Kalecki fable on debt and the monetary transmission mechanism pp. 224-228

Jan Toporowski

Book review: John Bellamy Foster and Robert W. McChesney, The Endless Crisis: How Monopoly-Finance Capital Produces Stagnation and Upheaval from the USA to China (Monthly Review Press, New York, NY, USA 2012) 224 pp pp. 229-230

David Fields

Book review: Riccardo Fiorentini and Guido Montani, The New Global Political Economy: From Crisis to Supranational Integration (Edward Elgar, Cheltenham, UK and Northampton, MA, USA 2012) 256 pp pp. 231-234

Pedro Mendes Loureiro

Book review: Ä°lker Aslan, Macroeconomic Foundations of Financial Analysis: A Case Study of Turkey as a Monetary Production Economy (Logos Verlag Berlin, Berlin, Germany 2014) 280 pp pp. 235-238

Mert Karabıyıkoğlu

Book review: G.C. Harcourt and Peter Kriesler (eds), The Oxford Handbook of Post-Keynesian Economics, Volume 2: Critiques and Methodology (Oxford University Press, New York, NY, USA 2013) 528 pp pp. 239-241

Edwin Dickens

Volume 4, issue 1, 2016

The relevance of Keynes's General Theory after 80 years pp. 1-3

Thomas Palley, Louis-Philippe Rochon and Matías Vernengo

How Keynes came to Britain pp. 4-19

Robert Skidelsky

Unravelling the New Classical Counter Revolution pp. 20-35

Simon Wren-Lewis

Keynes and the European economy pp. 36-49

Peter Temin and David Vines

Keynesian parables of thrift and hoarding pp. 50-55

Nicholas Rowe

Curried Keynesianism meets the master: Lauchlin Currie's memorandum on The General Theory for the Federal Reserve Board pp. 56-60

Matías Vernengo

The General Theory of Employment, Interest and Money, by J.M. Keynes pp. 61-66

Lauchlin Currie

Two minds that never met: Frank H. Knight on John M. Keynes once again – a documentary note. Perham C. Nahl's notes from Frank H. Knight's course on Business Cycles, University of California, 1936 pp. 67-98

Carlo Cristiano and Luca Fiorito

Keynes's attack on the citadel: proportionality, the two-price theory, and monetary circulation pp. 99-113

Mark Lautzenheiser and Yavuz YaÅŸar

Book review: A.P. Thirlwall, Essays on Keynesian and Kaldorian Economics (Palgrave Macmillan, Basingstoke, UK and New York, USA 2015) 396 pp pp. 116-119

Omar. Hamouda

Book review: Atsushi Komine, Keynes and his Contemporaries: Tradition and Enterprise in the Cambridge School of Economics (Routledge, New York, USA 2014) 190 pp pp. 120-122

William McColloch

Book review: Richard Davenport-Hines, Universal Man: The Lives of John Maynard Keynes (Basic Books, New York, USA 2015) 432 pp pp. 123-126

Steven Pressman