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Recent developments in Post-Keynesian modeling
[Los desarrollos recientes de la macroeconomía post-keynesiana]

Author

Listed:
  • Angel Asensio

    (CEPN - Centre d'Economie de l'Université Paris Nord - LABEX ICCA - UP13 - Université Paris 13 - Université Sorbonne Nouvelle - Paris 3 - CNRS - Centre National de la Recherche Scientifique - UPCité - Université Paris Cité - Université Sorbonne Paris Nord - CNRS - Centre National de la Recherche Scientifique - Université Sorbonne Paris Nord)

  • Sébastien Charles

    (LED - Laboratoire d'Economie Dionysien - UP8 - Université Paris 8 Vincennes-Saint-Denis)

  • Edwin Le Héron

    (CED - Centre Émile Durkheim - IEP Bordeaux - Sciences Po Bordeaux - Institut d'études politiques de Bordeaux - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique)

  • Dany Lang

    (CEPN - Centre d'Economie de l'Université Paris Nord - LABEX ICCA - UP13 - Université Paris 13 - Université Sorbonne Nouvelle - Paris 3 - CNRS - Centre National de la Recherche Scientifique - UPCité - Université Paris Cité - Université Sorbonne Paris Nord - CNRS - Centre National de la Recherche Scientifique - Université Sorbonne Paris Nord)

Abstract

Recent developments in Post-Keynesian modeling The purpose of this article is to show why recent developments in post-Keynesian modeling are valuable to understand the functioning of contemporary capitalism and to limit its dysfunction. First, the main methodological innovations from the last decade are emphasized: endogenous money, the role of banks and of financial system, formalization of path-dependency and long-run dynamics and stock flow consistent models. Second, we study the developments involved by Kalecki's works on dynamic analysis and the interaction between growth and income distribution. Finally, the importance of active and demand oriented macro-policies is underlined in order to promote a new regulation of capitalism, more efficient and fair than financialized capitalism.

Suggested Citation

  • Angel Asensio & Sébastien Charles & Edwin Le Héron & Dany Lang, 2011. "Recent developments in Post-Keynesian modeling [Los desarrollos recientes de la macroeconomía post-keynesiana]," Post-Print halshs-00664867, HAL.
    • Handle: RePEc:hal:journl:halshs-00664867
    DOI: 10.4000/regulation.9372
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00664867
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    References listed on IDEAS

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    3. Léo MALHERBE, 2017. "Endogenous money: an heterodox synthesis (In French)," Cahiers du GREThA 2017-08, Groupe de Recherche en Economie Théorique et Appliquée.

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