nep-pke New Economics Papers
on Post Keynesian Economics
Issue of 2016‒06‒14
seventeen papers chosen by
Karl Petrick
Western New England University
  1. IMPACTS OF DEVELOPING COUNTRIES GROWTH ON NATURAL RESOURCE EXPORTERS: A BOP CONSTRAINED GROWTH MODEL By GUILHERME R. MAGACHO; JOHN MCCOMBIE
  2. CONCILIATING PREBISCH-SINGER AND THIRLWALL: AN ASSESSMENT OF THE DYNAMICS OF TERMS-OF-TRADE IN A BOPC GROWTH MODEL By ADRIANA MOREIRA AMADO; MARWIL DÁVILA-FERNÁNDEZ
  3. ESTIMATING KALDOR-VERDOORN’S LAW ACROSS COUNTRIES IN DIFFERENT STAGES OF DEVELOPMENT By GUILHERME RICCIOPPO MAGACHO
  4. Population growth, saving, interest rates and stagnation: Discussing the Eggertsson-Mehrotra model By Spahn, Peter
  5. Working by Design: New Ideas to Empower U.S. and European Workers in TTIP By Susan Ariel Aaronson
  6. Obama, Katrina, and the Persistence of Racial Inequality By Robert A. Margo
  7. Lessons for the euro from early US monetary and financial history By Jeffry Frieden
  8. The affordability of the Sustainable Development Goals: A myth or reality? By Chongcharoentanawat, Patima; Haile, Kaleab; Kleine Deters, Bart; Kool, Tamara; Osei Kwadwo, Victor
  9. THE MULTI-SECTORAL THIRLWALL’S LAW: EVIDENCE FROM 14 DEVELOPED EUROPEAN COUNTRIES USING PRODUCT-LEVEL DATA By JOÃO P. ROMERO; JOHN. S. L. MCCOMBIE
  10. Human Capital, Inequality and Growth By Torben M Andersen, Department of Economics and Business Economics Aarhus University, CEPR, CESifo and IZA
  11. Double trouble: modern misreadings of Cantillon By Roy Grieve
  12. REFORMISM, CLASS CONCILIATION AND THE PINK TIDE: PROSPECTS FOR THE WORKING CLASSES UNDER LEFT-OF-CENTRE GOVERNMENTS IN LATIN AMERICA By PEDRO MENDES LOUREIRO
  13. Skills Requirements for the 30 Most-Frequently Advertised Occupations in the United States: An analysis based on online vacancy data By Beblavý, Miroslav; Fabo, Brian; Lenaerts, Karolien
  14. THE FIRST KEYNESIAN REACTIONS TO LUCAS’S MACROECONOMICS OF EQUILIBRIUM By DANILO FREITAS RAMALHO DA SILVA
  15. EMPREGO SETORIAL, PRODUTIVIDADE INDUSTRIAL E CRESCIMENTO ECONÔMICO DE LONGO PRAZO EMUM MODELO PÓS-KEYNESIANO COM MUDANÇA ESTRUTURAL By THEO SANTINI ANTUNES; JÚLIO F. C. SANTOS; MATHEUS S. DE PAIVA; GUILHERME JONAS C. DA SILVA
  16. A INSTABILIDADE FINANCEIRA NA ZONA DO EURO E A CRISE DOS PIIGS (2008-2013): UMA ABORDAGEM MINSKIANA By NICHOLAS MAGNUS DELEUSE BLIKSTAD; GIULIANO CONTENTO DE OLIVEIRA
  17. MARX: CAPITAL, ESTADO E POLÍTICA - NOTAS By PAULO HENRIQUE FURTADO DE ARAUJO
  1. By: GUILHERME R. MAGACHO; JOHN MCCOMBIE
    Date: 2016
    URL: http://d.repec.org/n?u=RePEc:anp:en2015:097&r=pke
  2. By: ADRIANA MOREIRA AMADO; MARWIL DÁVILA-FERNÁNDEZ
    Date: 2016
    URL: http://d.repec.org/n?u=RePEc:anp:en2014:075&r=pke
  3. By: GUILHERME RICCIOPPO MAGACHO
    Date: 2016
    URL: http://d.repec.org/n?u=RePEc:anp:en2014:140&r=pke
  4. By: Spahn, Peter
    Abstract: Post Keynesian stagnation theory argues that slower population growth dampens consumption and investment. A New Keynesian OLG model derives an unemployment equilibrium due to a negative natural rate in a three-generations credit contract framework. Besides deleveraging or rising inequality, also a shrinking population is a triggering factor. In all cases, a saving surplus drives real interest rates down. In other OLG settings however, with bonds as stores of value, slower population growth, on the contrary, causes a lack of saving and thus rising rates. Moreover, the recent fall in market interest rates was brought about by monetary factors.
    Keywords: overlapping generations,zero lower bound,deflation equilibrium,natural versus market interest rates
    JEL: E12 E21 E43 J11
    Date: 2016
    URL: http://d.repec.org/n?u=RePEc:zbw:hohdps:042016&r=pke
  5. By: Susan Ariel Aaronson (Department of Economics/Institute for International Economic Policy, George Washington University)
    Date: 2016–05
    URL: http://d.repec.org/n?u=RePEc:gwi:wpaper:2016-8&r=pke
  6. By: Robert A. Margo (Boston University)
    URL: http://d.repec.org/n?u=RePEc:bos:iedwpr:dp-272&r=pke
  7. By: Jeffry Frieden
    Abstract: Watch Jeffry Frieden's lecture delivered at Bruegel on 25 May 2016. Europe’s central goal for several decades has been to create an economic union that can provide monetary and financial stability. This goal is often compared to the long-standing monetary union that is the United States. Easy celebration of the successful American union ignores the fact that it took an extremely long time to accomplish. In fact, the creation and completion of the US monetary and financial union was a long, laborious, and politically conflictual process.
    Date: 2016–05
    URL: http://d.repec.org/n?u=RePEc:bre:esslec:14654&r=pke
  8. By: Chongcharoentanawat, Patima (UNU‐MERIT, Maastricht University); Haile, Kaleab (UNU‐MERIT, Maastricht University); Kleine Deters, Bart (UNU‐MERIT, Maastricht University); Kool, Tamara (UNU‐MERIT, Maastricht University); Osei Kwadwo, Victor (UNU‐MERIT, Maastricht University)
    Abstract: Global governance in various forms has emerged as a salient means of setting and driving common development goals that are of interest to the world's functioning at large. However, literature is divided on the attribution of achievements to the global social governance efforts. The experience of the Millennium Development Goals (MDGs) showed the importance of setting indicators at an early stage to support a sound monitoring system. If the world is to start implementing the Sustainable Development Goals (SDGs) in 2016, we cannot afford a lag of several years before putting monitoring tools in place and measuring progress towards achieving these goals. To answer the question on the level of resources required to fulfil the SDGs target by country and income category, five low and lower middle income countries were selected from Asia, Africa, and Latin America based on availability of data and their classification as low and lower-middle income countries: Cambodia, El Salvador, Ethiopia, Indonesia, and Senegal. The required data for the assessment is sourced from the World Bank Development Indicators Databank (WDID). The estimation of the resource requirement to adhere to the poverty, health and education targets of the SDGs involves computing three indices for each dimension. For the income gap index, two poverty lines underlie the composite resource gap as percentage of the GDP to meet the SDGs targets on poverty. The education gap is constructed by normalising seven indices that either directly capture or proxy the governance and outcome targets on education in the SDGs. Thirdly, this research employed a three-step approach in estimating the normative public health expenditure gap; the staff expenditure gap; and the resource allocation expenditure gap. To conclude, the viability of closing the cumulative resource gap is assessed in light of a country's tax revenue.
    Keywords: Sustainable Development Goals, Millennium Development Goals, attribution, monitoring, fiscal stress, fiscal capacity, health, education, poverty, Cambodia, El Salvador, Ethiopia, Indonesia, Senegal
    JEL: O23 H21 E62 H51 H52 H53
    Date: 2016–05–17
    URL: http://d.repec.org/n?u=RePEc:unm:unumer:2016027&r=pke
  9. By: JOÃO P. ROMERO; JOHN. S. L. MCCOMBIE
    Date: 2016
    URL: http://d.repec.org/n?u=RePEc:anp:en2014:084&r=pke
  10. By: Torben M Andersen, Department of Economics and Business Economics Aarhus University, CEPR, CESifo and IZA
    Abstract: Income inequality is increasing in most countries at the same time as traditional redistribution policies are under pressure, not least due to strained public finances. What are the underlying causes, and what is the scope to turn the trend? This is discussed from the perspective of the link between inequality and growth running via education and human capital formation. It is argued that imperfections arising from both capital market imperfections and social barriers imply that inequality may be a barrier to education, which in turn makes inequality persistent and reduces growth. In discussing redistribution it is thus important to distinguish between the traditional passive means of redistribution via taxes and transfers to repair on the distribution of market incomes, and active means which affect the distribution of market incomes. The latter may both lead to more income equality and efficiency improvements reflected in higher incomes or income growth. Policy options to improve educational outcomes and their distribution are discussed.
    JEL: I24 E02
    Date: 2015–09
    URL: http://d.repec.org/n?u=RePEc:euf:dispap:007&r=pke
  11. By: Roy Grieve (Department of Economics, University of Strathclyde)
    Abstract: Although the 18th century Franco-Irish financier Richard Cantillon is universally esteemed as an outstanding pioneer of economic analysis, his work is not immune to present-day misunderstanding. This paper identifies two current misreadings both relating to his concept of “intrinsic value.†Both need clearing-up. (1) Anthony Brewer (1992) claimed to find a fatal flaw in Cantillon’s theory of value. The present author (1993) demurred. That objection has not been taken up (or dismissed) in subsequent discussion of Cantillon’s work. We therefore have unfinished business. (2) A second issue has emerged. Modern “Austrian†commentators (who express great admiration for Cantillon) are promoting a seriously erroneous misinterpretation of his theory of value. We think it is time both to put forward, against Brewer’s allegation, a stronger defence of Cantillon’s theory, and also to make the point that Cantillon’s conception is fundamentally different from how (some) “Austrian†admirers apparently see it.
    Keywords: intrinsic value, distribution and value, "Austrian" theory, opportunity cost
    JEL: B11 B2 B31 B51
    Date: 2016–05
    URL: http://d.repec.org/n?u=RePEc:str:wpaper:1607&r=pke
  12. By: PEDRO MENDES LOUREIRO
    Date: 2016
    URL: http://d.repec.org/n?u=RePEc:anp:en2015:020&r=pke
  13. By: Beblavý, Miroslav; Fabo, Brian; Lenaerts, Karolien
    Abstract: Using a sample of approximately 2 million job advertisements published online, this paper assesses which educational, skills and other requirements US employers demand the most. The analysis is focused on the 30 most-frequently advertised occupations in the United States, of different levels of complexity, and finds that employers are quite demanding in their job advertisements, even when these concern low- or medium-skilled occupations. Although vacancies for more complex occupations are generally more demanding than those for less complex ones, there is a lot of variation across the 30 occupations. Formal education is the most important criterion for employers in the United States; it is required in 67% of the vacancies examined. Specialised training and licenses, in contrast, appear to be less important. Of the cognitive and non-cognitive skills, service skills in particular are high in demand (called for in 49% of the vacancies). Other non-cognitive skills, both of a social and personal nature, are frequently included as well. Experience is the third key criterion that employers use to screen job applicants, appearing in 38% of the vacancies.
    Date: 2016–03
    URL: http://d.repec.org/n?u=RePEc:eps:cepswp:11406&r=pke
  14. By: DANILO FREITAS RAMALHO DA SILVA
    Date: 2016
    URL: http://d.repec.org/n?u=RePEc:anp:en2015:007&r=pke
  15. By: THEO SANTINI ANTUNES; JÚLIO F. C. SANTOS; MATHEUS S. DE PAIVA; GUILHERME JONAS C. DA SILVA
    Date: 2016
    URL: http://d.repec.org/n?u=RePEc:anp:en2015:087&r=pke
  16. By: NICHOLAS MAGNUS DELEUSE BLIKSTAD; GIULIANO CONTENTO DE OLIVEIRA
    Date: 2016
    URL: http://d.repec.org/n?u=RePEc:anp:en2015:119&r=pke
  17. By: PAULO HENRIQUE FURTADO DE ARAUJO
    Date: 2016
    URL: http://d.repec.org/n?u=RePEc:anp:en2014:011&r=pke
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