‘Objetivos empresariales, regímenes de crecimiento macroeconómico y finanzas
AbstractBuilding on the established Post Keynesian theory of the firm, we identify different stakeholders inside and outside the firm, and we assess their potentially conflicting objectives. Depending on the bargaining power of these different stakeholders, we can distinguish different macroeconomic growth regimes characterized by the priority given to the realization of the dominant class’s objectives. In previous work (Dallery and van Treeck, 2008), we have analysed these different institutional configurations of capitalism, which we call Fordism and financialisation, within a formal stock-flow consistent macro model. Here, we focus more specifically on linking macroeconomic growth dynamics to our reassessment of the Post Keynesian theory of the firm. Based on this microeconomic analysis, we stress the risk of financial fragility and macroeconomic instability involved with financialised capitalism.
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Bibliographic InfoArticle provided by Gobierno Vasco / Eusko Jaurlaritza / Basque Government in its journal EKONOMIAZ.
Volume (Year): 72 (2009)
Issue (Month): 03 ()
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Postal: Dpto. de Hacienda y Finanzas, Gobierno Vasco, C/Donostia-San Sebastián, 1, 01010 Vitoria-Gasteiz, Spain
Find related papers by JEL classification:
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
- G30 - Financial Economics - - Corporate Finance and Governance - - - General
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