Description
Book SynopsisThis book introduces readers to some key concepts in post-Keynesian and heterodox economics, in particular the importance of finance in relation to income distribution and growth. The book explores various aspects of financialization, such as its role in pension funds, and explores its consequences especially in developing economies.
Readers will recognize other key concepts such as the role of banks, and the effectiveness of monetary policy and its transmission mechanism, and unconventional policies, such as quantitative easing. Considerable space is given to income inequality, a topic that has become increasingly important. Authors explore the growing importance of household debt, and policies that could address inequality. Finally, the book discusses the rising importance of dualism, a much under-researched topic in heterodox economics.
Policy makers and scholars alike, especially those in Heterodox Economics, will find the book a much need addition to the field.
Trade Review'This invaluable collection brings together the work of the world's leading Post-Keynesian thinkers. With great verve and originality the contributors take on most of the pressing theoretical and policy issues or our time-finance and financialization, monetary policy, economic growth, distribution, and economic dualism. This book belongs on the shelf of academic macroeconomists, their students, and every politician seeking insight and inspiration that will help get us out of the present morass.' --Ilene Grabel, University of Denver, US
Table of ContentsContents: Introduction Louis-Philippe Rochon and Virginie Monvoisin PART I POST-KEYNESIAN VIEWS ON FINANCE AND FINANCIALIZATION 1. Measuring finance for the economy and finance for finance Marcello Spanò 2. Economic limits of the originate to distribute model of banking Óscar Dejuán and John S. L. McCombie 3. Private pension funds in emerging economies: From broken promises to financialisation Bruno Bonizzi and Diego Guevara 4. Financialization and bancarization of Argentina, Brazil and Mexico: the financial services transformations as from the post-crisis period Alicia Girón and Marcia Solorza PART II POST-KEYNESIAN VIEWS ON Distribution and Growth 5. Macroeconomic implications of inequality and household debt: European evidence Jonathan Perraton 6. How can policy tackle inequality in 21st century? Hanna Szymborska 7. Economic policies and growth regimes in France (1974-2016) Hélène de Largentaye and Renaud du Tertre 8. Non-conventional fiscal rules in a Kaleckian model of growth and income distribution with external debt Pablo G. Bortz, Gabriel Michelena, and Fernando Toledo PART III POST-KEYNESIAN VIEWS ON Monetary Policy 9. The transmission of monetary policy in the US: Testing the credit channel and the role of endogenous money Nathan Perry and Carlos Schönerwald 10. Corporate debt expansion in emerging countries after 2008: Profile, determinants and policy implications Cristiano Duarte 11. From trillemma to dilemma: monetary policy after Bretton Woods Hasan Cömert 12. Shifting frames of the expert debate: Quantitative Easing, international Macro-finance and the potential impact of Post-Keynesian Scholarship Max Nagel and Matthias Thiemann PART IV SOME NOTES ON THE DUAL ECONOMY Introduction Helene Delargentaye 13. Dualism: more or less? David Leadbeater 14. Do the robots come to liberate us or to deepen our inequality? The uncertain macrostructural foundations of the robotic age Arpita Bhattacharjee and Gary Dymski Index
