Titlebook: Contributions to Stock-Flow Modeling; Essays in Honor of W Dimitri B. Papadimitriou,Gennaro Zezza Book 2012 Palgrave Macmillan, a division

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,The Effectiveness of Fiscal Policy in the Levy Institute’s Stock-flow Model,cy and to fiscal policy. The former is gaining considerably in importance, while the latter is being so much downgraded that it is rarely discussed at least in academic circles these days. There are, of course, exceptions to this general statement. The onset of the ‘great recession’ prompted governm

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Of Unsustainable Processes and the US Dollar,onomics paper, Wynne offered a series of eight lectures entitled ‘Critique of orthodox macroeconomic theory’. As Wynne was to retire from Cambridge University at the end of the academic year, these were his final lectures at the university where he had been since 1970. In his lectures, Wynne introdu

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https://doi.org/10.1007/978-3-642-46412-6nt: a search for his true voice, and as he took many public roles, a nagging fear that he might disappoint such responsibilities. The tensions that made up the intimate structures of his psychoanalytic self help also to describe his approach to economics: an anxious affirmation of voice and judgment.

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2662-6357 onetary economics. Chapters include in-depth discussions of the revolutionary economic modelling systems that Godley introduced, as well as his prescient concerns about the global financial crash.978-1-349-33340-0978-0-230-36735-7Series ISSN 2662-6357 Series E-ISSN 2662-6365

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https://doi.org/10.1007/978-3-642-46684-7enditure function was an innovative empirical relationship with dramatic policy implications. Rapid adjustment of private spending to private income, it was claimed, meant that UK fiscal policy had the power swiftly to affect the level of output and the balance of payments.

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Verification of Arms Reductionsried out without distributional implications. More importantly, for the theory of a modern credit economy, the financial flows that arise in the process of production and exchange have to be integrated into the model of the economy at large.