454 Results for “inflation”

The rising crescendo of bickering and acrimony within Europe might seem to outsiders to be the inevitable result of the bitter endgame playing out between Greece and its creditors. In fact, European leaders are finally beginning to reveal the true nature of the ongoing debt dispute, and the answer is not pleasant: it is about power and democracy much more than money and economics.

A more realistic version of how people “maximize utility”

In our two papers, we analyze how changes in personal and functional (wages versus profits) income distribution interact to produce different macroeconomic outcomes in different countries. On the basis of a stock-flow consistent model calibrated for the United States, Germany, and China, simulations suggest that a substantial part of the increase in household debt and the decrease in the current account in the United States since the early 1980s can be explained by the interplay of rising (top-end) household income inequality and certain institutions (e.g. easy access to credit, privately financed education and health care systems).

The explanation of systematic breakdowns in supervisory oversight over time must include the shift in Federal Reserve culture during and after the 1990s

On the occasion of the 70th anniversary of Kalecki’s seminal lecture in Mexico on financing economic development, Jan Toporowski’s INET Working Paper considers the relevance of structuralism and Kalecki’s view of economic development for today.

The speed and duration of COVID-19 economic recovery will depend on how the government will finance emergency programs.

This essay critically evaluates the benefits and costs of the dominant methodology in macroeconomics, the DSGE approach. Although the approach has led to great progress in some areas, it has also created biases and blind spots in the profession that hold back our understanding and our ability to govern the macroeconomy. There is great scope for progress in macroeconomics by judiciously pushing the boundaries of some of the methodological restrictions imposed by the DSGE approach.

By reducing our reliance on chemical fertilizers, policymakers could turn today’s food crisis into a genuine opportunity towards shifting subsidies from agribusiness-led to agroecological-led farming systems

The decline in productivity growth has a longer history

Cryptocurrency was supposed to change the economic outlook for Black America. For many, it made things worse.

The theoretical approaches to analyzing crises have behind them contrasting conceptions of the way the economy works

Walker Todd and Bill Bergman expose the untold story of banking instability, regulatory battles, and the struggle to protect the public from financial chaos

A look at America’s strange and dangerous approach to medicine, and how to fix it

Axel Leijonhufvud showed economists a promising path forward. They should have taken it. Leijonhufvud passed away on May 5, 2022

Sometimes a radical path is the most practical way out of a mess.