nep-pke New Economics Papers
on Post Keynesian Economics
Issue of 2007‒08‒08
eight papers chosen by
Karl Petrick
University of the West Indies

  1. "Cracks in the Foundations of Growth: What Will the Housing Debacle Mean for the U.S. Economy?" By Dimitri B. Papadimitriou; Greg Hannsgen; Gennaro Zezza
  2. Live and Dead Issues in the Methodology of Economics By David Colander; Richard P.F. Holt; J. Barkley Rosser, Jr.
  3. Analysis of Financial Stability By Charles Goodhart; Dimitrios Tsomocos
  4. Developing a Global Model for Trade, Finance and Income Distribution By Francis Cripps; Alex Izurieta; Terry McKinley
  5. Financial Policy By Gerald Epstein; Ilene Grabel
  6. Monetary Policy By Alfredo Saad Filho
  7. Fiscal Policy By John Weeks; Shruti Patel
  8. A Schumpeterian Renaissance? By Chris Freeman

  1. By: Dimitri B. Papadimitriou; Greg Hannsgen; Gennaro Zezza
    Abstract: With economic growth having cooled to 0.7 percent in the first quarter of 2007, the economy can ill afford a slump in consumption by the American household. But it now appears that the household sector could finally give in to the pressures of rising gasoline prices, a weakening home market, and a large debt burden. The signals are still mixed; for example, while April’s retail sales numbers caused concern, May’s were much improved, and so was the ISM manufacturing index for June. Consumption growth indicates a slowdown. This Public Policy Brief examines the American household and its economic fortunes, concentrating on how falling home prices might hamper economic growth, generate social dislocations, and possibly lead to a full-blown financial crisis.
    Date: 2007–07
  2. By: David Colander; Richard P.F. Holt; J. Barkley Rosser, Jr.
    Abstract: We attempt to clarify divisions made by us in previous work (Colander et al., 2004a,b) between “orthodox, mainstream, and heterodox” in economics, following very useful remarks in Dequech (2007), whom we thank. We also provide specific advice for heterodox economists, namely: worry less about methodology, focus on being economists first and heterodox economists second, and prepare ideas to leave the incubator of heterodoxy to enter the mainstream economic debate.
    Date: 2007–04
  3. By: Charles Goodhart; Dimitrios Tsomocos
    Date: 2007–05
  4. By: Francis Cripps (Alphametrics Co.); Alex Izurieta (University of Cambridge); Terry McKinley (International Poverty Centre)
    Abstract: .
    JEL: B41
    Date: 2007–02
  5. By: Gerald Epstein (Univ. of Massachusetts); Ilene Grabel (Professor of International Finance, Graduate School of International Studies, University of Denver)
    Abstract: .
    Keywords: Financial Policy, Economic Policies, MDGs, Poverty, Pro-Poor Growth, Training, Programme, Research
    Date: 2007–07
  6. By: Alfredo Saad Filho (Centre for Development Policy & Research School of Oriental & African Studies University of London)
    Abstract: .
    Keywords: Monetary Policy, Economic Policies, MDGs, Povery, Research, Programme
    Date: 2007–07
  7. By: John Weeks (Professor Emeritus, School of Oriental and African Studies, University of London); Shruti Patel (Centre for Development Policy & Research School of Oriental & African Studies, University of London)
    Abstract: .
    Keywords: Training, Modules, Research Programme, Economic Policies, MDGs, Poverty
    Date: 2007–07
  8. By: Chris Freeman (SPRU, University of Sussex)
    Abstract: In the last few decades of the twentieth century, the attention paid to technical innovation in the economics and management literature and in social science generally has justified some such description as "a Schumpeterian renaissance". This article, in justifying the concept of such a renaissance, distinguishes in particular Schumpeter's work on the clustering of innovations and technological revolutions as a major contribution to contemporary theory. As always during his lifetime, the relevance of these ideas to his work on Business Cycles remains controversial but the debate on this topic has certainly enlivened the renaissance of neo-Schumpeterian economic theory and research.
    Keywords: innovation clusters, technological revolution, Schumpeter, business cycles
    JEL: E11 O30
    Date: 2007–06–05

This nep-pke issue is ©2007 by Karl Petrick. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
General information on the NEP project can be found at For comments please write to the director of NEP, Marco Novarese at <>. Put “NEP” in the subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.