An update on Kalecki–Minsky modelling

Engelbert Stockhammer

doi:10.4337/ejeep.2019.02.04

An update on Kalecki–Minsky modelling

Engelbert Stockhammer^*

^*Corresponding author for this work

King's College London

Research output: Contribution to journal › Article › peer-review

6 Citations (Scopus)

Abstract

Within post-Keynesian macroeconomics, the Kaleckian streams analysing demand regimes and the Minskyan streams analysing financial instability have proceeded relatively independently. To develop a comprehensive alternative to mainstream economics, post-Keynesians will have to integrate Kaleckian and Minskyan arguments with an analysis of the supply side. This paper gives a partial update on advances in Kalecki-Minsky modelling. First, theoretically, it discusses the notion of pseudo-Goodwin cycles. Second, it presents empirical findings on endogenous debt cycles. Third, it reviews evidence of the relative size of distributional and financial effects on demand. Fourth, it reports results on the drivers of household debt.

Original language	English
Pages (from-to)	179-192
Number of pages	14
Journal	European Journal of Economics and Economic Policies: Intervention
Volume	16
Issue number	2
DOIs	https://doi.org/10.4337/ejeep.2019.02.04
Publication status	Published - 1 Sept 2019

Keywords

Debt cycles
Household debt
Kalecki
Minsky
Post-Keynesian economics

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An update on Kalecki–Minsky modelling

Abstract

Keywords

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