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The Supermultiplier
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Book Synopsis The Supermultiplier by : Óscar Dejuán
Download or read book The Supermultiplier written by Óscar Dejuán and published by Edward Elgar Publishing. This book was released on 2023-09-06 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely book presents a nuanced investigation into the idiosyncrasies of the supermultiplier model, examining its application to residential investment, exports and fiscal policy. It offers an accessible introduction to this growth model, hypothesizing that it is one of the cornerstones of modern macroeconomics.
Book Synopsis The Sraffian Supermultiplier and Cycles by : Michalis Nikiforos
Download or read book The Sraffian Supermultiplier and Cycles written by Michalis Nikiforos and published by . This book was released on 2021 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a theoretical and empirical reassessment of supermultiplier theory. First, we show that, as a result of the passive role it assigns to investment, the Sraffian supermultiplier (SSM) predicts that the rate of utilization leads the investment share in a dampened cycle or, equivalently, that a convergent cyclical motion in the utilization-investment share plane would be counterclockwise. Second, impulse response functions from standard recursive vector autoregressions (VAR) for postwar US samples strongly indicate that the investment share leads the rate of utilization, or that these cycles are clockwise. These results raise questions about the key mechanism underlying supermultiplier theory.
Book Synopsis The Keynesian Multiplier by : Claude Gnos
Download or read book The Keynesian Multiplier written by Claude Gnos and published by Routledge. This book was released on 2008-05-25 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: The multiplier is a central concept in Keynesian and post-Keynesian economics. It is largely what justifies activist full-employment fiscal policy: an increase in fiscal expenditures contributing to multiple rounds of spending, thereby financing itself. Yet, while a copingstone of post-Keynesian theory, it is not universally accepted by
Book Synopsis Cycles: Empirics and the Supermultiplier Theory by : Ricardo de Figueiredo Summa
Download or read book Cycles: Empirics and the Supermultiplier Theory written by Ricardo de Figueiredo Summa and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Economics of the Super-Multiplier by : Thomas I. Palley
Download or read book The Economics of the Super-Multiplier written by Thomas I. Palley and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper links the super-multiplier to Keynesian macroeconomics, showing it to be the most Keynesian of growth perspectives. Next, the paper shows that the super-multiplier is a micro-economically coherent theory of investment and capital accumulation. Firms' decisions regarding capital accumulation coordinate demand and supply growth in goods markets. The paper then explores the implications of incorporating the super-multiplier in the neo-Kaleckian and Cambridge growth models. Lastly, it shows how labor markets and unemployment can be added into super-multiplier models to provide a comprehensive growth model that addresses Solow's (1956, Journal of Economics, 70, 65-94) labor market knife-edge problem. Incorporating labor markets does not change the fundamental super-multiplier result that growth is determined by the growth of autonomous demand.
Book Synopsis A Supermultiplier Stock-Flow Consistent Model by : Lídia Brochier
Download or read book A Supermultiplier Stock-Flow Consistent Model written by Lídia Brochier and published by . This book was released on 2019 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Supermultiplier models have been recently brought to the post-Keynesian debate. Yet these models still rely on quite simple economic assumptions, being mostly flow models which omit the financial determinants of autonomous expenditures. Since the output growth rate converges in the long run to the exogenously given growth rate of "non-capacity creating" autonomous expenditure and the utilization rate moves towards the normal utilization rate, the paradoxes of thrift and costs remain valid only as level effects (average growth rates). This paper investigates whether the core conclusions of supermultiplier models hold in a more complex economic framework, described by means of a supermultiplier SFC model, in which private business investment is assumed to be completely induced by income while the autonomous expenditure component - in this case consumption out of wealth - becomes endogenous. The results of the numerical simulation experiments suggest that the paradox of thrift can remain valid in terms of growth effects and that a lower profit share can also be associated to a higher accumulation rate, though with a lower profit rate.
Book Synopsis Is the Supermultiplier Nil? by : Jens Boysen-Hogrefe
Download or read book Is the Supermultiplier Nil? written by Jens Boysen-Hogrefe and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzing US macro data via a structural vector-autoregressive model, Deleidi and Mazzucato (2021) find strong positive spillover of mission-oriented government spending on private research and development activity and on overall economic dynamism ("crowding in"). However the result hinges on specific transformation of the data. Deleidi and Mazzucato deflate all variables in their model via the GDP deflator. Applying originally price adjusted data a spillover on GDP cannot be found. Estimating the model with data starting in 1984, the results point at “crowding out” of private research and development activity.
Book Synopsis An Introduction to Macroeconomics by : Louis-Philippe Rochon
Download or read book An Introduction to Macroeconomics written by Louis-Philippe Rochon and published by Edward Elgar Publishing. This book was released on 2021-03-26 with total page 633 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second edition of this important textbook introduces students to the fundamental ideas of heterodox economics. It is written in a clear way by top heterodox scholars. This introductory book offers not only a critique of the dominant approach to economics, but also presents a positive and constructive alternative. Students interested in an explanation of the real world will find the heterodox approach not only satisfying, but ultimately better able to explain a money-using economy prone to periods of instability and crises.
Book Synopsis Some Comments on the Sraffian Supermultiplier Approach to Growth and Distribution by : Michalis Nikiforos
Download or read book Some Comments on the Sraffian Supermultiplier Approach to Growth and Distribution written by Michalis Nikiforos and published by . This book was released on 2018 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Symposium: Autonomous Demand, Capacity Utilization, and the Supermultiplier by :
Download or read book Symposium: Autonomous Demand, Capacity Utilization, and the Supermultiplier written by and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Institutions, Behaviour and Economic Theory by : Heinrich Bortis
Download or read book Institutions, Behaviour and Economic Theory written by Heinrich Bortis and published by Cambridge University Press. This book was released on 1997 with total page 467 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is about the conceptual foundations of an intermediate way between liberalism and socialism. From a standpoint of economic theory, this middle way is conceived of as a synthesis of classical (Ricardian) and Keynesian political economy. While the former deals with proportions between individuals or collectives and society in tackling the problems of distribution and value on the basis of the surplus principle, the latter is concerned with the scale of economic activity as explained by the principle of effective demand. Political economy pictures the economic aspects of the functioning of the institutional system within which the behaviour of individuals is embedded. The economy considered is, primarily, neither a market nor a planned economy, but, rather, a monetary production economy. To establish an alternative to liberalism and socialism requires setting up a system of the social sciences. In this work suggestions are made for linking political economy with other social sciences, i.e. sociology, law and politics in the traditional sense, thus establishing the unity of the social sciences. In a Keynesian vein, the social sciences are conceived of as moral sciences, a view which gives rise to a specific philosophy of history. To complete the picture, issues of method associated with the theory of knowledge in the social sciences and the problem of linking theory with historical reality are also covered.
Book Synopsis Sraffa and the Reconstruction of Economic Theory: Volume Two by : E. Levrero
Download or read book Sraffa and the Reconstruction of Economic Theory: Volume Two written by E. Levrero and published by Springer. This book was released on 2013-12-17 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written on the occasion of the 50th anniversary of the publication of Piero Sraffa's Production of Commodities by Means of Commodities, the papers selected and contained in Sraffa and the Reconstruction of Economic Theory account for the work completed around the two central aspects of his contribution to economic analysis, namely the criticism of the neoclassical (or marginalist) theory of value and distribution, and the reconstruction of economic theory along the lines of the Classical approach. Divided into three volumes, Sraffa and the Reconstruction of Economic Theory debates the most fruitful routes for advancement in this field and their implications for applied and policy analysis. This second volume focuses on the theory of output and growth as developed in the modern classical approach on the basis of the extension to the long run of the Keynesian principle of effective demand, and on the implications of the revival of the classical approach for policy analysis and for understanding the evolution of the international economic order in the last few decades.
Book Synopsis MANAGERIAL ECONOMICS, Third Edition by : NADAR, E. NARAYANAN
Download or read book MANAGERIAL ECONOMICS, Third Edition written by NADAR, E. NARAYANAN and published by PHI Learning Pvt. Ltd.. This book was released on 2020-06-01 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Managerial Economics has assumed a predominant role in today's globalized and liberalized economy because of the financial implications of many decisions that a manager has to take in his day-to-day professional life. This comprehensive and student-friendly book strives to equip the young, practising and budding managers to find solutions to the real-world problems through the efficient and effective use of economic tools and techniques. The authors who admirably combine academic and professional experience give a clear and straightforward analysis of the various topics in managerial economics. The text begins with an overview of managerial economics and describes the modern business firm and its objectives along with the concepts of market mechanism, demand theory and production analysis. The text then moves further to explain managerial techniques, macroeconomic theory and international trade and finance along with the risks and uncertainties involved in business. Besides, it also explains the cost and revenue, supply, pricing, profit and investment analyses. Finally, this book discusses some important Case Studies to reinforce the concepts presented in the text. The third edition of the book comprises multiple choice questions (with answers) at the end of each chapter to test the understanding of the concepts discussed in the chapter. Besides, the objectives, strategies and initiatives of the twelfth five year plan (2012–2017) of Planning Commission as well as a new section on Replacement of Indian Planning Commission with NITI Aayog have been incorporated in the chapter on Macroeconomic Analysis. Intended as a text for postgraduate students of Management, Commerce and Economics, the book would also be useful for undergraduate engineering courses where Managerial Economics is offered. Finally, the book can be profitably used by marketing and management consultants, business executives and other related professionals. KEY FEATURES • Includes several simple, numerical examples with solutions for easy understanding of theory. • Contains a large number of tables and figures to illustrate the concepts. • Provides chapter-end exercises to check students' comprehension of the subject. TARGET AUDIENCE • MBA • M.Com • M.A. Economics
Book Synopsis Economics, Policy and Law. Proceedings of the Research Days Department of Economics by : Pasquale De Muro
Download or read book Economics, Policy and Law. Proceedings of the Research Days Department of Economics written by Pasquale De Muro and published by Roma TrE-Press. This book was released on 2020-10-06 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: Il volume raccoglie alcuni contributi presentati durante le Giornate della Ricerca, tenute presso il Dipartimento di Economia dell’Università Roma Tre, il 16 e 17 maggio 2019. Oltre a due sessioni plenarie – di apertura e di chiusura – si sono svolte otto sessioni parallele, durante le quali sono stati presentati ben 30 contributi. I temi trattati hanno rispecchiato i principali interessi di ricerca del Dipartimento: la teoria economica micro e macro; le politiche di bilancio, ambientali e di integrazione; la distribuzione personale e funzionale del reddito; il commercio internazionale; la finanza e il sistema bancario; i metodi quantitativi.
Book Synopsis The Oxford Handbook of Post-Keynesian Economics, Volume 2 by : G. C. Harcourt
Download or read book The Oxford Handbook of Post-Keynesian Economics, Volume 2 written by G. C. Harcourt and published by Oxford University Press. This book was released on 2013-08-16 with total page 528 pages. Available in PDF, EPUB and Kindle. Book excerpt: This two volume Handbook contains chapters on the main areas to which Post-Keynesians have made sustained and important contributions. These include theories of accumulation, distribution, pricing, money and finance, international trade and capital flows, the environment, methodological issues, criticism of mainstream economics and Post-Keynesian policies. The Introduction outlines what is in the two volumes, in the process placing Post-Keynesian procedures and contributions in appropriate contexts.
Book Synopsis Keynes' General Theory by : Thomas Cate
Download or read book Keynes' General Theory written by Thomas Cate and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume, a collection of essays by internationally known experts in the area of the history of economic thought and of the economics of Keynes and macroeconomics in particular, is designed to celebrate the 75th anniversary of the publication of The General Theory. The essays contained in this volume are divided into four sections. The first section contains three essays that explore the concept of fundamental uncertainty and its unique role in The General Theory. The second section contains five essays that examine the place of The General Theory in the history of macroeconomics since 1936. The third section contains three essays that explore the interrelationships among Keynes, Friedman, Kaldor, Marx and Sraffa and their approaches to macroeconomic theory and policy. The final section contains four essays that provide several new interpretations of The General Theory and its position within macroeconomics. Keynes's General Theory is intended for those students and scholars who are interested in the economics of Keynes and the rich variety of approaches to macroeconomic theory and policy.
Book Synopsis Elgar Encyclopedia of Post-Keynesian Economics by : Louis-Philippe Rochon
Download or read book Elgar Encyclopedia of Post-Keynesian Economics written by Louis-Philippe Rochon and published by Edward Elgar Publishing. This book was released on 2023-01-13 with total page 475 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Encyclopedia is an invaluable reference book for post-Keynesian and heterodox economics. It consists of 300 entries, written by 180 different authors. The volume includes entries on key concepts of interest to post-Keynesians as well as descriptions of some of the seminal books in the post-Keynesian tradition. It will interest both students and scholars of heterodox economics, as well as policy makers around the world looking for a better alternative to mainstream economic policies at national and international levels in the aftermath of the global financial crisis that burst in 2008 and the COVID-19 pandemic crisis that began in 2020.
