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on Post Keynesian Economics |
| By: | Ghislain Deleplace (LED - Laboratoire d'Economie Dionysien - UP8 - Université Paris 8 Vincennes-Saint-Denis) |
| Abstract: | For de Cecco power relations are central in the working of the pre-WWI international gold standard. He gives an illustration of that in the chapter of Money and Empire devoted to the relationship between Britain and India, where the gold-exchange standard is presented as a way for Britain to get hold of India's trade surplus with the rest of the world in order to balance her own international accounts. On the contrary, Keynes praised the Indian gold-exchange standard as a system which not only allowed stabilising India's relations with the outside world but also pointed the way to a better-regulated monetary system for any country, in the line of Ricardo's Ingot Plan nearly one century older. The same notion may thus be seen alternatively as a powerful tool of domination or as a good practical idea. The paper describes how Lindsay adapted Ricardo's scheme to India and contrasts de Cecco's and Keynes's interpretations of the Indian gold-exchange standard, before suggesting that monetary ideas can prevail in their own right when they are theoretically well-founded and practically feasible, independently of the power relations they may reflect. |
| Keywords: | Gold exchange Standard, India, De Cecco, Keynes John M, Lindsay, Ricardo David |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04253424&r=pke |
| By: | Paul Scanlon (Department of Economics, Trinity College Dublin); |
| Abstract: | I present a model where firms' pricing power increases with the volatility of the general price level. Confronted with a change in the price of a good, consumers solve a signal extraction problem to infer the good's relative price. Yet general price volatility obscures price signals, and consumers attribute part of any price change to variation in the price level. Ultimately, imperfect information confers firms with greater market power, raises the profit share, and magnifies inflationary shocks. These predictions are in line with recent empirical evidence. |
| Keywords: | Pricelevel, Inflation, InformationalFrictions, InflationVolatility, CorporateProfits, Markups |
| JEL: | E30 E31 E32 E52 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:tcd:tcduee:tep1423&r=pke |
| By: | Catherine L. Mann |
| Abstract: | In this Women in Economics Podcast episode, Catherine Mann shares how data led her to a career in economics and the importance of mentorship in the field. |
| Keywords: | women in economics |
| Date: | 2022–08–15 |
| URL: | http://d.repec.org/n?u=RePEc:fip:l00001:94645&r=pke |
| By: | Sharon Donnery |
| Abstract: | Sharon Donnery, the first woman appointed deputy governor at the Central Bank of Ireland, discusses the importance of diversity. |
| Keywords: | women in economics; diversity |
| Date: | 2022–06–14 |
| URL: | http://d.repec.org/n?u=RePEc:fip:l00001:94358&r=pke |
| By: | Hope Bodenschatz; Gerald Eric Daniels Jr.; Jeffrey P. Thompson |
| Abstract: | This paper explores disparities between White, Black, and Hispanic families using a measure of lifetime earnings developed by Jacobs et al. (2022) for the Survey of Consumer Finances (SCF). Lifetime earnings are a particularly important measure of well-being, with relevance for wealth accumulation among other economic and social outcomes, but they are under-studied in the context of racial disparities. We describe how the different components of lifetime earnings— including annual earnings of workers, number of working household members, and number of years of employment during the working life—vary by race. We then decompose the differences in lifetime earnings using the recentered influence function and show that human capital-related variables, including educational attainment and years of full-time employment, account for most of the observed differences in lifetime earnings between White, Black, and Hispanic families. We also explore the contribution of business ownership to explained disparities in lifetime earnings and find that it is significant and that business ownership’s explanatory power increases at the top of the lifetime-earnings distribution. |
| Keywords: | lifetime earnings; racial disparities; inequality |
| JEL: | D31 I31 J15 J24 J31 |
| Date: | 2023–10–01 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedbwp:97303&r=pke |