nep-pke New Economics Papers
on Post Keynesian Economics
Issue of 2020‒11‒23
five papers chosen by
Karl Petrick
Western New England University

  1. The Economics of Bernard Lonergan: Context, Modelling and Assessment By Oslington, Paul; Assistant, JHET
  2. The Global Development Banks’ Architecture By José Antonio OCAMPO; Victor ORTEGA
  3. Gender Inequality during the COVID-19 Pandemic: Income, Expenditure, Savings, and Job Loss By Dang, Hai-Anh; Nguyen, Cuong Viet
  4. Review of “The Economic Thought of Michael Polanyi” by Gábor Bíró By Dekker, Erwin; Assistant, JHET
  5. Review of “A History of Feminist and Gender Economics” by Giandomenica Becchio By Chassonnery-Zaïgouche, Cléo; Assistant, JHET

  1. By: Oslington, Paul; Assistant, JHET
    Abstract: Bernard Lonergan S.J. (1904-84) is unusual among major theologians in engaging deeply with economic theory. In the 1940s he developed his own dynamic multisectoral macroeconomic model, informed by reading of Smith, Marx, Keynes, Hayek, Schumpeter, and later Kalecki. Lonergan’s economic research is little known because the economic manuscripts were not published in his lifetime, and his interactions with professional economists were limited. In the 1970s, however, when he returned to economics he engaged with Post-Keynesians and taught a graduate course on macroeconomics at Boston College until illness overtook him. This paper places Lonergan’s economic research in the context of his overall intellectual project, outlines his macroeconomic model and associated theory of the business cycle, then evaluates his contribution in relation to mid-twentieth century macroeconomics and considers whether it has anything to offer contemporary economists. Whatever view we take of his theoretical contributions, Lonergan’s work opens up connections between economics and theology.
    Date: 2020–11–03
  2. By: José Antonio OCAMPO; Victor ORTEGA
    Abstract: This paper looks at the role, evolution and regional coverage of the system of multilateral and national development banks (MDBs and NDBs) and international climate change funds. It analyzes the roles that development banks should play to correct the market failures that characterize financial systems, particularly in emerging and developing countries. It concludes that MDBs should be capitalized to better support the recovery of emerging and developing countries after the COVID-19 crisis. They should also be aligned with the Sustainable Development Goals, and enhance the role they play in promoting innovation and structural transformation, and in supporting climate change mitigation and adaptation. It underscores that the development banks should work as a system, and that better networking between MDBs and NDBs is essential and should be systematically monitored. Finally, it points out that MDBs should support the development of strong NDBs in the regions where these institutions are underrepresented.This Research Paper is published in the framework of the International Research Initiative on Public Development Banks working groups and released for the occasion of the 14th AFD International Research Conference on Development. It is part of the pilot research program “Realizing the Potential of Public Development Banks for Achieving Sustainable Development Goals”. This program was launched, along with the International Research Initiative on Public Development Banks (PDBs), by the Institute of New Structural Economics (INSE) at Peking University, and sponsored by the Agence française de développement (AFD), Ford Foundation and International Development Finance Club (IDFC).Have a look on the key findings for a quick overview of the research resultsSee the video pitch
    JEL: Q
    Date: 2020–11–02
  3. By: Dang, Hai-Anh (World Bank); Nguyen, Cuong Viet (National Economics University Vietnam)
    Abstract: The COVID-19 outbreak has brought unprecedented disruptions to the global economies and has led to income loss and high unemployment rates. But scant, if any, evidence exists on gender gaps in economic outcomes such as income, expenditure, savings, and job loss in a multi-country setting. We investigate the impacts of COVID-19 on gender inequality in these outcomes using data from a six-country survey that covers countries in different geographical locations and at various income levels. Our findings suggest that women are 24 percent more likely to permanently lose their job than men because of the outbreak. Women also expect their labor income to fall by 50 percent more than men do. Perhaps because of these concerns, women tend to reduce their current consumption and increase savings. Factors such as the different participation rates in work industries for men and women may take an important part in explaining these gender gaps. Our estimates also point to country heterogeneity in these gender differences that is likely due to varying infection rates and shares of women in the labor force.
    Keywords: COVID-19, gender gap, income, employment, job loss
    JEL: J16 J21 O12
    Date: 2020–10
  4. By: Dekker, Erwin; Assistant, JHET
    Abstract: A book review of “The Economic Thought of Michael Polanyi” by Gábor Bíró
    Date: 2020–11–02
  5. By: Chassonnery-Zaïgouche, Cléo (University of Lausanne); Assistant, JHET
    Abstract: A Review of “A History of Feminist and Gender Economics” by Giandomenica Becchio.
    Date: 2020–11–02

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