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Date Added: Mar 27, 2021
Authors: Mark Beeson, Hang Duong, Jeannette Taylor
Date Added: Mar 27, 2021
Authors: Mark Beeson, Hang Duong, Jeannette Taylor
1
Date Added: Mar 27, 2021
Authors: SIMONE DEOS, OLÍVIA BULLIO MATTOS, FERNANDA ULTREMARE, ANA ROSA RIBEIRO DE MENDONÇA
Date Added: Mar 27, 2021
Authors: SIMONE DEOS, OLÍVIA BULLIO MATTOS, FERNANDA ULTREMARE, ANA ROSA RIBEIRO DE MENDONÇA
ABSTRACT This paper has a twofold purpose. The first one is to present the core ideas of MMT. The second one is to explain its recent rise in Brazil after the publication of Andre Lara Resende’s articles in the press in 2019 and a book in 2020. In order to do that, the paper is organized as follows. After the introduction, the first session presents the core ideas of MMT: i) chartal money, or tax driven money; ii) functional finance; iii) Minskyan financial fragility; iv) sectoral balances approach; v) employer of last resort. The second session presents some critiques MMT has received both from the orthodox and the heterodox sides at the international level. The third section discusses the particular way in which MMT’s ideas have recently arrived in Brazil, considering peculiarities of the Brazilian economic debate and political scenario. The final session brings back the main ideas presented in the paper and raises critics to Lara Resende’s contributions from a political economy perspective.
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Date Added: Mar 27, 2021
Authors: WILLIAM CAPRIATA, LEONARDO FLAUZINO DE SOUZA
Date Added: Mar 27, 2021
Authors: WILLIAM CAPRIATA, LEONARDO FLAUZINO DE SOUZA
ABSTRACT The main purpose of this paper is to present the differences in the exchange rates in macroeconomic models from the three current theoretical views: Orthodox, Post-Keynesian and New Developmentalism. To achieve this objective, it is proposed to make a bibliographic survey of the literature on open macroeconomics and exchange rate. The main differences among these views concerns to exchange rate determination, causes of exchange rate variations and balance of payments equilibrium determination.
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Date Added: Mar 27, 2021
Authors: ANTÓN LOSADA, CRISTINA ARES
Date Added: Mar 27, 2021
Authors: ANTÓN LOSADA, CRISTINA ARES
ABSTRACT This article compares parliamentary preferences on welfare expenditure in Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Sweden, and the United Kingdom between 1996 and 2013. The analysis is focused on the relationship between the type of welfare regime and the programmatic offer on the volume of social spending. Two indexes were calculated: social spending and social retrenchment. Upon emergence from the recession, an increasingly homogeneous conception is detected of social policies as being subordinated to economic policies; convergence has occurred within each of the worlds of welfare, maintaining the variation among them found prior to the Crisis.
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Date Added: Mar 27, 2021
Authors: ALESSANDRO MORSELLI
Date Added: Mar 27, 2021
Authors: ALESSANDRO MORSELLI
ABSTRACT This paper highlights the fact that neoclassical theory cannot explain the process of economic change. In an uncertain and ever-changing world, a theory based on static equilibrium models is of little help. Whereas we have placed the institutions at the centre of the understanding of economic systems, since they constitute their incentive structure. Thus, economic change is largely an intentional process created by individuals’ perceptions of the consequences of their actions. These perceptions, coming from the beliefs of individuals, combine with their preferences. In the end, a dynamic theory of economic change will not be built, but an attempt will be made to understand the link between institutions and economic growth, the process of change, and to develop assumptions, within its limits, capable of improving the human environment and economic results.
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Date Added: Mar 27, 2021
Authors: GABRIEL VILELA RESENDE FREITAS
Date Added: Mar 27, 2021
Authors: GABRIEL VILELA RESENDE FREITAS
ABSTRACT The objective of this review is to discuss the formation of knowledge proposed by Keynes on his Treatise on Probability, and the economic agents’ behavior in an uncertainty scenario presented on his General Theory, by the Narrative Economics’ and Behavioral Economics perspectives. The hypothesis that will be analyzed is that in a keynesian uncertainty scenario, economic agents tend to act according to their context (social, geographic, historic, cultural) spreading narratives by which they identify themselves and orient decisions that cause sensible movements on the economic aggregates. Revisiting the literature, we could conclude that by bringing together the behavioral economy and the narrative economy theory, we could, from the Keynes’ insights on his writings, perceive strong empirical evidence that can be analytically important on the assessment of the economic fluctuations.
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