Research

A. Main Areas of Research with Selected Publications

 

1. Post-Keynesian Macroeconomics

  • Money, Distribution Conflict and Capital Accumulation. Contributions to ‘Monetary Analysis’, Basingstoke: Palgrave Macmillan, 2008. (More)
  • Macroeconomic policy mix, employment and inflation in a Post-Keynesian alternative to the New Consensus model, Review of Political Economy, 2010, 22: 317-354 (with E. Stockhammer).
  • A Modern Guide to Keynesian Macroeconomics and Economic Policies, Cheltenham: Edward Elgar, 2011 (editor with E. Stockhammer). (More)

 

2. Distribution and Growth: Theory and Empirical Results

  • Verteilung und Wachstum. Eine paradigmenorientierte Einführung unter besonderer Berücksichtigung der post-keynesianischen Theorie, Marburg: Metropolis, 2004. (More)
  • Distribution and growth reconsidered – empirical results for six OECD countries, Cambridge Journal of Economics, 2008, 32: 479-511 (with L. Vogel).
  • Distribution, aggregate demand and productivity growth – theory and empirical results for six OECD countries based on a Post-Kaleckian model, Cambridge Journal of Economics, 2010, 34: 727-754 (with A. Tarassow).

 

3. European Economic Policies and Macroeconomic Policy Regimes

  • European Monetary Union: nominal convergence, real divergence and slow growth?, Structural Change and Economic Dynamics, 2005, Vol. 16: 7-33 (with A. Truger).
  • Ende der Stagnation? Wirtschaftspolitische Perspektiven für mehr Wachstum und Beschäftigung in Europa, Wien: NexisLexis, 2007 (editor with G. Chaloupek and A. Truger). (More)
  • How to fight (or not to fight) a slowdown, Challenge. The Magazine of Economic Affairs, 2009, 52 (2): 52-75 (with A. Truger).

 

4. Financial System and the Macroeconomy

  • Shareholder value orientation, distribution and growth – short- and medium-run effects in a Kaleckian model, Metroeconomica, 2010, 61: 302-332.
  • ‘Financialisation’ in Post-Keynesian models of distribution and growth – a systematic review, in: Setterfield, M. (ed.), Handbook of Alternative Theories of Economic Growth, Cheltenham: Edward Elgar, 2010, 277-292 (with T. van Treeck).
  • The Macroeconomics of Finance-dominated Capitalism - and Its Crisis, Cheltenham: Edward Elgar, forthcoming.

 

B. Current Research Projects

 

1. Financial Crisis, Recession and Economic Policy Reactions

  • Financial crisis, global recession and macroeconomic policy reactions – the case of Germany, in: Dullien, S., Hein, E., Truger, A., van Treeck, T. (eds.), The World Economy in Crisis – The Return of Keynesianism?, Marburg: Metropolis, 2010, 191-220 (with A. Truger).
  • Krise des finanzdominierten Kapitalismus – Plädoyer für einen keynesianischen New Deal für Europa und die Weltwirtschaft, Wirtschaft und Gesellschaft, 2010, 36: 481-517 (with A. Truger).

  • The European financial and economic crisis: Alternative solutions from a (Post-)Keynesian perspective, IMK Working Paper, 9/2011, Düsseldorf: Macroeconomic Policy Institute (IMK), Hans Boeckler Foundation (with A. Truger and T. van Treeck). (Download)

 

2. Income Distribution and the Present Financial and Economic Crisis

  • Finance-dominated capitalism, re-distribution and the financial and economic crises - a European perspective, Munich Personal RePEc Archive, MPRA Paper 35903. (Download)

  • Distribution, 'financialisation' and the financial and economic crisis - implications for a post-crisis economic policies, Berlin School of Economics and Law, Institute for International Political Economy (IPE), Working Paper 9/2011, and Munich Personal RePEc Archive, MPRA Paper 31180. (Download)
  • Redistribution, global imbalances and the financial and economic crisis – the case for income-led recovery embedded in a Keynesian New Deal, International Journal of Labour Research, 2011, 3(1): 51 - 73. (Download)
  • Financialisation, re-distribution, and the financial and economic crisis – a Kaleckian perspective, in: Niechoj, T., Onaran, Ö., Stockhammer, E., Truger, A., van Treeck, T. (eds.): Stabilising an Unequal Economy? Public Debt, Financial Regulation, and Income Distribution, Marburg: Metropolis.

 

3. Instability in Kaleckian models of distribution and growth

  • Harrodian instability and the 'normal rate' of capacity utilisation in Kaleckian models of distribution and growth – a survey, Metroeconomica, forthcoming, 2012, 63: 139-169 (with M. Lavoie and T. van Treeck).

  • Some instability puzzles in Kaleckian models of growth and distribution: A critical survey, Cambridge Journal of Economics, 2011, 35: 587-612. (with M. Lavoie and T. van Treeck).

4. Household debt and financial fragility in a Kaleckian model of distribution and growth

  • Finance-dominated capitalism, re-distribution, household debt and financial fragility in a Kaleckian distribution and growth model, Berlin School of Economics and Law, Institute for International Political Economy (IPE) Working Paper, forthcoming, and Munich Personal RePEc Archive, MPRA Paper 34115. (Download)