Advanced Search
MyIDEAS: Login to save this article or follow this journal

Financialisation Issues in a Post-Keynesian Stock-flow Consistent Model

Contents:

Author Info

  • Marc Lavoie

    ()
    (Department of Economics, University of Ottawa)

Abstract

This paper presents a stock-flow consistent growth model which is set in the Post-Keynesian tradition. A key feature of the model, however, is that real government expenditures grow at a rate which is compatible over the long period with a constant rate of unemployment (at the "natural rate of growth"). The model incorporates a detailed description of the household, production, banking and government sectors. This paper focuses on changes in parameters that are tied with financialization. The effects on the following changes are examined: the target proportion of retained earnings to investment, the proportion of profits distributed as dividends, the propensity of households to hold equities, and the propensity of households to take new loans as a proportion of their personal income. There is also a short analysis of the impact of a change in the loan repayment ratio and in the loan default ratio.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.elgaronline.com/view/journals/ejeep/5-2/ejeep.2008.02.12.xml
Download Restriction: no

Bibliographic Info

Article provided by Edward Elgar in its journal Intervention. European Journal of Economics and Economic Policies (subtitle initially: Zeitschrift fuer Oekonomie / Journal of Economics).

Volume (Year): 5 (2008)
Issue (Month): 2 ()
Pages: 331-356

as in new window
Handle: RePEc:elg:ejeepi:v:5:y:2008:i:2:p:331-356

Contact details of provider:
Web page: http://www.elgaronline.com/ejeep

Related research

Keywords: financialization; growth; buffer stocks; disequilibria;

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Eckhard Hein & Nina Dodig, 2014. "Financialisation, distribution, growth and crises – long-run tendencies," Working papers wpaper23, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
  2. Hein, Eckhard, 2009. "Financialisation', distribution, capital accumulation and productivity growth in a Post-Kaleckian model," IPE Working Papers 01/2009, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
  3. Giorgos Argitis & Stella Michopoulou, 2013. "Studies in Financial Systems No 4 Financialization and the Greek Financial System," FESSUD studies fstudy04, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
  4. Hein, Eckhard, 2011. "Distribution, ‘Financialisation’ and the Financial and Economic Crisis – Implications for Post-crisis Economic Policies," MPRA Paper 31180, University Library of Munich, Germany.
  5. Hein, Eckhard & Dodig, Nina & Budyldina, Natalia, 2014. "Financial, economic and social systems: French Regulation School, Social Structures of Accumulation and Post-Keynesian approaches compared," IPE Working Papers 34/2014, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
  6. Hein, Eckhard & Truger, Achim, 2010. "Finance-dominated capitalism in crisis: The case for a Global Keynesian New Deal," IPE Working Papers 06/2010, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
  7. Alessandro Caiani & Antoine Godin & Stefano Lucarelli, 2014. "Innovation and finance: a stock flow consistent analysis of great surges of development," Journal of Evolutionary Economics, Springer, vol. 24(2), pages 421-448, April.
  8. Eugenio Caverzasi, 2012. "From the Financial Instability Hypothesis to the theory of Capital Market Inflation: a structural interpretation of the sub-prime crisis," DEM Working Papers Series 018, University of Pavia, Department of Economics and Management.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:elg:ejeepi:v:5:y:2008:i:2:p:331-356. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Helen Craven).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.