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on Post Keynesian Economics |
| By: | Boughabi, Houssam |
| Abstract: | This paper investigates the interplay between distributive conflict, wage dynamics, and persistent unemployment within a Kaleckian framework, emphasizing the long-memory properties of wages. We develop a stochastic model in which wages adjust adaptively to cumulative historical discrepancies between prices and wages, reflecting backward-looking expectations, institutional rigidities, and distributive conflict. Applying this framework to Germany over the period 1990-2024, we provide empirical evidence that persistent price- wage divergences generate long-lasting effects on real wages and aggregate demand. Within a Kaleckian perspective in which investment and employment are demand-driven, these wage dynamics contribute to the persistence of unemployment by weakening consumption and effective demand over time. Our findings highlight that long-memory wage adjustment amplifies the macroeconomic consequences of distributive conflict and inflation, underscoring the importance of historical wage inertia in shaping employment outcomes. The results offer new insights into the structural origins of persistent unemployment in advanced economies. |
| Keywords: | Kaleckian economics, wage-price dynamics, long-memory, distributive conflict, persistent unemployment |
| JEL: | E12 E24 E32 C22 J30 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:cessdp:338094 |
| By: | Massimo Cervesato (Centre d'Economie de la Sorbonne, Université Paris 1 Panthéon-Sorbonne) |
| Abstract: | Property rights are central to studies of natural resource governance, as they shape both our understanding of resource use and our capacity to act upon it. A key issue lies in the coexistence of characteristics typically associated with the public sphere (non-excludability of the resource) and others associated with the private sphere (subtractability of the resource). Ostrom thus suggests that common property consists of “essentially share contracts.” This, however, raises a fundamental question: what distinguishes such a regime from a mere aggregation of individual property rights? To address this, we return to the foundations of Ostrom’s framework, which draw on the institutionalist theory of John R. Commons. While much of the literature has focused on the notion of ‘bundles of rights, ’ we argue that further insights can be gained from Commons’s conception of legal relations. Combined with Ostrom’s emphasis on language, common property can be understood as an emergent phenomenon arising from the complex relations that constitute the commons, rather than a formal aggregation of distinct private properties. This perspective ultimately highlights the central role of informality in such regimes, explaining their difficult incorporation into modern legal systems |
| Keywords: | Common Property Rights; Commons; Ostrom (Elinor); Complexity;Institutionalist Theory |
| JEL: | D02 P48 B52 Q20 |
| Date: | 2026–02 |
| URL: | https://d.repec.org/n?u=RePEc:mse:cesdoc:26005 |
| By: | Gregory Casey (Williams College); ; ; |
| Abstract: | "I present a simple dynamic model that allows students to determine whether, and under what conditions, economic growth is compatible with environmental sustainability. The model captures two key forces: the slowing of economic growth and the decoupling of economic growth from environmental damage. In this way, it connects closely with ongoing public discussions focusing on degrowth and decoupling. The model highlights a key observation that students often find counter-intuitive: economic growth is neither a necessary nor a sufficient condition for achieving a sustainability target, such as keeping global average surface temperatures from increasing by 1.5C above pre-industrial levels. The model is solved by taking the sum of a geometric series. It is designed for undergraduate courses that do not require calculus, but could be applicable in a wider range of settings." |
| Keywords: | Sustainability, Economic Growth, Climate Change, Undergraduate Education |
| Date: | 2025–07–05 |
| URL: | https://d.repec.org/n?u=RePEc:wil:wileco:2025_106 |
| By: | Stapleton, Fergal; Mendoza, Lucia Vázquez; Galván, Edgar |
| Abstract: | Without immediate intervention, global warming will have devastating consequences on the environment for future generations; as such, there is an urgent need to adopt more sustainable economic practices like the Circular Economy (CE). Although several policies and regulations support this goal, such as the European Green Deal, Ireland consistently ranks among the poorer-performing countries in CE adoption. One of the Irish sectors that contributes the most to this is the construction sector, where the built environment constitutes 30-40% of Greenhouse Gas (GHG) emissions. With this in mind, a comprehensive synthesis of the diverse range of barriers and enablers to CE adoption is crucial for developing targeted strategies to improve Ireland’s CE performance and contribute effectively to the sustainability goals. This study comprehensively analyses CE and the built environment in Ireland, drawing from impactful articles, white papers, and reports. This study reveals that key barriers to CE adoption in Ireland’s built environment include pervasive issues in material and waste management, leading to a high material footprint, low Circular Material Use Rate (CMUR), and inadequate recycling of Construction and Demolition Waste (CDW). Critical policy and regulatory shortcomings were identified, particularly the insufficient focus on Whole Life Carbon (WLC) assessment and practical support for Design for Disassembly (DfD). Furthermore, the digitalisation necessary to underpin CE is significantly hampered by a lack of integrated data frameworks, skills gaps, and clear standards. Crucial enablers identified involve strategic policy reforms to stimulate secondary material markets and mandate WLC, the advancement of digital tools such as Building Information Modelling (BIM) for CE and shared material databases, and fostering widespread adoption of DfD principles alongside targeted decarbonisation strategies appropriate for the Irish context. |
| Date: | 2026–02–09 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:sp9yq_v1 |