Pub Date : 2023-05-26DOI: 10.4337/ejeep.2023.01.01
Elissa Braunstein
{"title":"'I think it is important to speak multiple languages theoretically in order to communicate to different types of people'","authors":"Elissa Braunstein","doi":"10.4337/ejeep.2023.01.01","DOIUrl":"https://doi.org/10.4337/ejeep.2023.01.01","url":null,"abstract":"","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77670920","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-26DOI: 10.4337/ejeep.2023.01.02
M. Lavoie
{"title":"Editorial to the Symposium: Modern Monetary Theory and its critics","authors":"M. Lavoie","doi":"10.4337/ejeep.2023.01.02","DOIUrl":"https://doi.org/10.4337/ejeep.2023.01.02","url":null,"abstract":"","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87213846","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper is focused on modern monetary theory’s (MMT) treatment of inflation from an open-economy perspective. It analyses how the inflation process is explained within the MMT framework and provides empirical evidence in support of this vision. However, it also makes use of a stock–flow consistent open-economy model to underline some limits of the theory when it is applied in the context of a non-US (relatively) open economy with a flexible exchange-rate regime. The model challenges the contention made by MMT-ers that measures such as the job guarantee programme can achieve full employment without facing an inflation–unemployment trade-off.
{"title":"The trade-off between inflation and unemployment in an ‘MMT world’: an open-economy perspective","authors":"Emilio Carnevali, Matteo Deleidi","doi":"10.4337/ejeep.2022.0080","DOIUrl":"https://doi.org/10.4337/ejeep.2022.0080","url":null,"abstract":"This paper is focused on modern monetary theory’s (MMT) treatment of inflation from an open-economy perspective. It analyses how the inflation process is explained within the MMT framework and provides empirical evidence in support of this vision. However, it also makes use of a stock–flow consistent open-economy model to underline some limits of the theory when it is applied in the context of a non-US (relatively) open economy with a flexible exchange-rate regime. The model challenges the contention made by MMT-ers that measures such as the job guarantee programme can achieve full employment without facing an inflation–unemployment trade-off.","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135996969","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-26DOI: 10.4337/ejeep.2023.01.09
Françoise Drumetz, C. Pfister
We reply to the critics who contributed the other papers in the same issue of this journal. In the first part of the article, we indicate those remarks addressed to us, which we deem inappropriate to answer. The second part deals with the remarks we find useful to answer, which relate to money, monetary policy and central banking on the one hand, and to fiscal policy on the other hand. The third part recalls remarks we made in our previous publications and that our critics did not wish to consider, whereas this might have helped them in amending their theory. In the fourth part, we conclude that an opportunity to engage in a more fruitful debate may thus have been missed: indeed, it takes two to tango.
{"title":"It takes two to tango: a reply to our MMT critics*","authors":"Françoise Drumetz, C. Pfister","doi":"10.4337/ejeep.2023.01.09","DOIUrl":"https://doi.org/10.4337/ejeep.2023.01.09","url":null,"abstract":"We reply to the critics who contributed the other papers in the same issue of this journal. In the first part of the article, we indicate those remarks addressed to us, which we deem inappropriate to answer. The second part deals with the remarks we find useful to answer, which relate to money, monetary policy and central banking on the one hand, and to fiscal policy on the other hand. The third part recalls remarks we made in our previous publications and that our critics did not wish to consider, whereas this might have helped them in amending their theory. In the fourth part, we conclude that an opportunity to engage in a more fruitful debate may thus have been missed: indeed, it takes two to tango.","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72702359","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-26DOI: 10.4337/ejeep.2023.01.12
M. Lavoie
{"title":"Book review: Cuyvers, Ludo (2022): Neo-Marxism and Post-Keynesian Economics: From Kalecki to Sraffa and Joan Robinson, Milton Park (247 pages, Routledge, hardcover, ISBN 978-1-032-25480-7)","authors":"M. Lavoie","doi":"10.4337/ejeep.2023.01.12","DOIUrl":"https://doi.org/10.4337/ejeep.2023.01.12","url":null,"abstract":"","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2023-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86997723","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.4337/ejeep.2022.03.08
{"title":"The ecological crisis and post-Keynesian economics – bridging the gap?","authors":"","doi":"10.4337/ejeep.2022.03.08","DOIUrl":"https://doi.org/10.4337/ejeep.2022.03.08","url":null,"abstract":"","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76259325","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.4337/ejeep.2022.03.01
{"title":"‘The core idea is that income distribution is always the result of a conflict of powers among social classes’","authors":"","doi":"10.4337/ejeep.2022.03.01","DOIUrl":"https://doi.org/10.4337/ejeep.2022.03.01","url":null,"abstract":"","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79555912","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Beyond climate economics orthodoxy: impacts and policies in the agent-based integrated-assessment DSK model*","authors":"","doi":"10.4337/ejeep.2022.0096","DOIUrl":"https://doi.org/10.4337/ejeep.2022.0096","url":null,"abstract":"","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89971326","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-01DOI: 10.4337/ejeep.2022.03.02
{"title":"Obituary: Jerzy Osiatyński (1941–2022)*","authors":"","doi":"10.4337/ejeep.2022.03.02","DOIUrl":"https://doi.org/10.4337/ejeep.2022.03.02","url":null,"abstract":"","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80655744","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Assessing climate policies: an ecological stock–flow consistent perspective","authors":"","doi":"10.4337/ejeep.2022.0095","DOIUrl":"https://doi.org/10.4337/ejeep.2022.0095","url":null,"abstract":"","PeriodicalId":44368,"journal":{"name":"European Journal of Economics and Economic Policies-Intervention","volume":null,"pages":null},"PeriodicalIF":0.6,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84286406","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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