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European Journal of Economics and Economic Policies-Intervention最新文献

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Editorial to the special issue 特刊社论
IF 0.6
European Journal of Economics and Economic Policies-Intervention Pub Date : 2020-11-01 DOI: 10.4337/ejeep.2020.03.04
M. Setterfield
{"title":"Editorial to the special issue","authors":"M. Setterfield","doi":"10.4337/ejeep.2020.03.04","DOIUrl":"https://doi.org/10.4337/ejeep.2020.03.04","url":null,"abstract":"","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":"34 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2020-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77450746","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A note on Heterodox Macroeconomics by Blecker and Setterfield 布莱克和塞特菲尔德对非正统宏观经济学的注解
IF 0.6
European Journal of Economics and Economic Policies-Intervention Pub Date : 2020-11-01 DOI: 10.4337/ejeep.2020.03.02
Emiliano Libman
{"title":"A note on Heterodox Macroeconomics by Blecker and Setterfield","authors":"Emiliano Libman","doi":"10.4337/ejeep.2020.03.02","DOIUrl":"https://doi.org/10.4337/ejeep.2020.03.02","url":null,"abstract":"Blecker and Setterfield's new textbook from 2019 presents an updated discussion of heterodox models of growth and distribution. This note clarifies and elaborates on three important issues discussed in the book. First, the text presents mainly one-sectoral and one-technique models, which is a reasonable set-up to keep things simple but not always enough to discuss some controversial issues. Second, continuous substitution is important but not essential for neoclassical growth theory. Third, the popular Goodwin model presented in the text does not produce ‘limit cycles.’","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":"2005 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2020-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82989792","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
‘I have never held models as depictions of anything real; they are just tools for understanding some aspects of the real world’ “我从不认为模特是对任何真实事物的描绘;它们只是理解现实世界某些方面的工具。”
IF 0.6
European Journal of Economics and Economic Policies-Intervention Pub Date : 2020-11-01 DOI: 10.4337/ejeep.2020.0063
Eckhard Hein, M. Lavoie
{"title":"‘I have never held models as depictions of anything real; they are just tools for understanding some aspects of the real world’","authors":"Eckhard Hein, M. Lavoie","doi":"10.4337/ejeep.2020.0063","DOIUrl":"https://doi.org/10.4337/ejeep.2020.0063","url":null,"abstract":"","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":"106 1","pages":"278-285"},"PeriodicalIF":0.6,"publicationDate":"2020-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77407471","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
On multi-sector and multi-technique models, production functions and Goodwin cycles: a reply to Libman 论多部门多技术模型、生产函数与古德温循环:对利布曼的回复
IF 0.6
European Journal of Economics and Economic Policies-Intervention Pub Date : 2020-11-01 DOI: 10.4337/ejeep.2020.03.03
Robert A. Blecker, M. Setterfield
{"title":"On multi-sector and multi-technique models, production functions and Goodwin cycles: a reply to Libman","authors":"Robert A. Blecker, M. Setterfield","doi":"10.4337/ejeep.2020.03.03","DOIUrl":"https://doi.org/10.4337/ejeep.2020.03.03","url":null,"abstract":"Emiliano Libman's constructive comments on our recent book, Heterodox Macroeconomics: Models of Demand, Distribution and Growth (HM), raise three main points of contention: the suitability of single-sector/single-technique (as opposed to multi-sector/multi-technique) models; the appropriate choice of production function; and the distinction between limit cycles and closed orbits as representations of Goodwinian dynamics. In this reply, we respond to Libman's critique in a manner that is designed to develop his arguments into a useful addendum to our book. In so doing, we hope that this exchange will engage interested students and other readers in issues and avenues of inquiry that lie beyond some of the first-pass simplifications in HM.","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":"54 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2020-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80688079","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Prudential bank regulation: a post-Keynesian perspective 审慎银行监管:后凯恩斯主义视角
IF 0.6
European Journal of Economics and Economic Policies-Intervention Pub Date : 2020-11-01 DOI: 10.4337/ejeep.2020.0060
P. Docherty
{"title":"Prudential bank regulation: a post-Keynesian perspective","authors":"P. Docherty","doi":"10.4337/ejeep.2020.0060","DOIUrl":"https://doi.org/10.4337/ejeep.2020.0060","url":null,"abstract":"Banks play an important role in the post-Keynesian theory of endogenous money but post-Keynesians have not paid much attention to the prudential regulation of banks. Do post-Keynesian insights into the role of banks cast any light on the way they ought to be regulated, or can the conventional treatment of prudential bank regulation be grafted onto post-Keynesian theory without any significant modification? This paper begins a process of reflection on these questions. It argues that conventional prudential regulation theory can be utilised by post-Keynesians but with important modifications including a renewed emphasis on liquidity and greater recognition of endogenously generated systemic risk. A post-Keynesian approach to prudential bank regulation is shown to be characterised by both liquidity and capital requirements, as well as by a macroprudential framework that facilitates the counter-cyclical adjustment of these requirements in response to endogenous variations in systemic risk.","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":"26 1","pages":"399-412"},"PeriodicalIF":0.6,"publicationDate":"2020-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74279266","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The long road to accommodative central banking: the US case 通往宽松央行的漫长道路:以美国为例
IF 0.6
European Journal of Economics and Economic Policies-Intervention Pub Date : 2020-11-01 DOI: 10.4337/ejeep.2020.0061
Jane E. Knodell
{"title":"The long road to accommodative central banking: the US case","authors":"Jane E. Knodell","doi":"10.4337/ejeep.2020.0061","DOIUrl":"https://doi.org/10.4337/ejeep.2020.0061","url":null,"abstract":"For Basil Moore and post-Keynesians who have followed him in developing the theory of endogenous money, accommodative central-bank behavior is a logical necessity in credit-money economies. Such central banks have no choice but to accommodate the banking system's demand for liquidity. Accommodative central banking evolved through a historical process, as this paper shows for the specific case of the US economy. The road to accommodative central banking was a long one in the US, marked by failed experiments with alternative institutional regimes: the Second Bank of the US of the early national period, the urban clearing-houses of the late nineteenth century, and the early Federal Reserve.","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":"12 1","pages":"325-338"},"PeriodicalIF":0.6,"publicationDate":"2020-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87292780","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The ECB's policy under the presidency of Mario Draghi: a curse or a blessing for Europe? 德拉吉(Mario Draghi)领导下的欧洲央行政策:对欧洲是祸还是福?
IF 0.6
European Journal of Economics and Economic Policies-Intervention Pub Date : 2020-09-01 DOI: 10.4337/ejeep.2020.02.06
P. Bofinger
{"title":"The ECB's policy under the presidency of Mario Draghi: a curse or a blessing for Europe?","authors":"P. Bofinger","doi":"10.4337/ejeep.2020.02.06","DOIUrl":"https://doi.org/10.4337/ejeep.2020.02.06","url":null,"abstract":"The paper discusses the monetary policy of the European Central Bank (ECB) under the presidency of Mario Draghi. It first shows the serious mistakes made under his predecessor, Jean-Claude Trichet, during which period the ECB destabilized rather than stabilized. Draghi, on the other hand, embarked on a more expansive course immediately after taking office, thereby securing the existence of the euro in a very threatening situation. In 2014, he then identified the deflationary risks for the eurozone at an early stage and successfully countered them with massive bond purchases. The undesirable developments for the financial system and especially the banks predicted by his critics, who are to be found primarily among German economists, have not materialized.","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":"136 ","pages":"171-182"},"PeriodicalIF":0.6,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72544411","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Cambridge–Cambridge controversy on the theory of capital: 50 years after 剑桥-剑桥资本理论之争:50年后
IF 0.6
European Journal of Economics and Economic Policies-Intervention Pub Date : 2020-09-01 DOI: 10.4337/ejeep.2020.02.09
H. Hagemann
{"title":"The Cambridge–Cambridge controversy on the theory of capital: 50 years after","authors":"H. Hagemann","doi":"10.4337/ejeep.2020.02.09","DOIUrl":"https://doi.org/10.4337/ejeep.2020.02.09","url":null,"abstract":"The paper points out that capital theory has always been a hotly debated subject, partly because the theoretical issues involved are very complex, and partly because rival ideologies and value systems directly affect the issues discussed. The focus is on the history, the main protagonists, and the relevant problems examined and argued about during the two Cambridges controversy on the theory of capital which was at its peak 50 years ago. Whereas one clear result of these debates is that neither Samuelson's surrogate production function nor Solow's rate-of-return concept could resurrect aggregate neoclassical theory, many other questions, such as the treatment of capital in temporary or intertemporal general equilibrium models or the empirical relevance of the reswitching phenomenon, are still discussed controversially.","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":"6 12 1","pages":"196-207"},"PeriodicalIF":0.6,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72554805","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Why 3 and 60 per cent? The rationale of the reference values for fiscal deficits and debt in the European Economic and Monetary Union 为什么是3%和60% ?欧洲经济与货币联盟财政赤字和债务参考值的基本原理
IF 0.6
European Journal of Economics and Economic Policies-Intervention Pub Date : 2020-09-01 DOI: 10.4337/EJEEP.2020.02.01
J. Priewe
{"title":"Why 3 and 60 per cent? The rationale of the reference values for fiscal deficits and debt in the European Economic and Monetary Union","authors":"J. Priewe","doi":"10.4337/EJEEP.2020.02.01","DOIUrl":"https://doi.org/10.4337/EJEEP.2020.02.01","url":null,"abstract":"The origins of the reference values for budget deficits and public debt (3 and 60 per cent of GDP) in the euro area are explored. Both numbers came into the Maastricht Treaty by coincidence. Later attempts to legitimise them are traced and found unconvincing. In particular the debt cap is scrutinised, often considered as a precondition for debt sustainability. Since the first overhaul of the Stability and Growth Pact in 2005, reference values for structural deficits became the focus of fiscal policy, but derived from the 60 per cent debt cap. With the so-called Fiscal Compact from 2012, caps for structural deficits were added to the semi-primary law of the European Union. It is argued that the reference values for deficits and debt are not consistent. If the Domar equation is observed, the changing relationship between interest rates on public debt and output growth should be included in the fiscal policy framework. Therefore ‘eternal’ reference values for deficits and debt should be removed from the primary law by Treaty amendments.","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":"21 1","pages":"111-126"},"PeriodicalIF":0.6,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83275761","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 6
Recovering from Maastricht 从马斯特里赫特恢复过来
IF 0.6
European Journal of Economics and Economic Policies-Intervention Pub Date : 2020-09-01 DOI: 10.4337/ejeep.2020.02.03
A. Bénassy-Quéré
{"title":"Recovering from Maastricht","authors":"A. Bénassy-Quéré","doi":"10.4337/ejeep.2020.02.03","DOIUrl":"https://doi.org/10.4337/ejeep.2020.02.03","url":null,"abstract":"The euro area crisis was less a crisis of the euro than a crisis of the Maastricht doctrine. The latter was based on a triple ban: no monetization of fiscal deficits, no bail-out, no sovereign default. The euro architecture was also based on a strict division of tasks: the European Central Bank would stabilize prices in the euro area as a whole, whereas national governments would stabilize their own economies in case of idiosyncratic shocks. To make things even more dysfunctional, bank supervision remained under the competence of the member states. Although much has been done since the crisis to reform the Maastricht framework, there are still major flaws that weaken the single currency.","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":"35 1","pages":"129-138"},"PeriodicalIF":0.6,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75075702","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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