Search results for "Keynes"
showing 10 items of 72 documents
Price convergence of peripheral European countries on the way to the EMU: A time series approach
2000
This paper examines price and inflation convergence between three European countries (Italy, Spain and the U.K.) and a European average and, alternatively, between them and Germany from the beginning of the 80's.
The Rodrik Trilemma and the Dahrendorf Quandary: An Empirical Assessment
2021
Rodrik’s Trilemma rests on the incompatibility of democracy, national sovereignty, and global economic integration: any two can be combined, but never all three simultaneously and in full. Addressing the same problèmatique but from a different perspective, Dahrendorf’s Quandary posits that, over time, maintaining global economic competitiveness requires countries either to adopt measures detrimental to the cohesion of civil society or to restrict civil liberties and political participation. The purpose of this article is to examine the empirical foundations of Rodrik’s and Dahrendorf’s propositions. When one assesses developed market economies from 1991 to 2014, evidence suggests that only …
Debating Sound Money in Early Modern Europe: From Dualist to Metallic Monetary Systems
2019
International audience; In this paper, we present the monetary debates in Europe from the XVIth to the XVIIIth centuries from the viewpoint of the problem of good and sound money. The framework of the paper is built on a typology of monetary systems, by which a dualist system is distinguished from a metallic one. Under the dualist system, the value in units of account of the specie in circulation was defined by monetary proclamations (Einaudi locates this era from Charlemagne to the French Revolution). Metallist proponents aimed at preventing any kind of manipulations with a radical transformation of the system of payment, which gave birth to a metallic monetary system from the very end of …
From 2009 to 1929: Lessons from Fisher, Keynes and Minsky,
2010
International audience
KEYNES’S EUROPEANISM AS SHOWN IN “THE ECONOMIC CONSEQUENCES OF THE PEACE”
2012
European integration and enlargement, in the context of decreasing support of European country nationals, needs great men and great ideas standing with. J.M.Keynes proves in his book”The Economic Consequences of the Peace” that there is no other way for Europe than acts together. His economic reasons for which European countries “throb together” are presented here and supported with data. This article, with a historical approach, brings another important and strong view on the side of Europeanism.
What is next for the Washington consensus? The fifteenth anniversary, 1989-2004.
2004
Winter2004/2005, Vol. 27 Issue 2, p, 7p; (AN 15818079); International audience; The article reports on the fifteenth anniversary of the Washington consensus with special focus on the past fifteen years accomplishments. Washington consensus was promulgated in 1989. In the past fifteen years, the United States saw some impressive growth with strong employment, low inflation, and high productivity gains, while emerging countries were hit by a string of financial crises. It states that the economic performance of developing countries in the past 15 years is disappointing at best, alarming at worst. It talks about the contributions of globalization in redefining the international currency stage.…
The Washington consensus and multinational banking in Latin America
2004
International audience; The dramatic increase in multinational banks in the late 1990s is a direct result of Washington Consensus-type policies that emphasize the removal of barriers to the free flow of financial capital. In Latin America, foreign banks now control almost half of the total banking activity. Inevitably, the direct implication of such circumstances is a fall in the profits of domestic banks. In response to this, domestic banks react by curtailing their overall lending in the short run, thereby preventing small borrowers from accession to credit, and eventually increasing their lending to riskier projects and borrowers in the medium run. Either way, the multinationalization of…
Alternative Military Keynesianism as a Tool of Civil-Military Cooperation in the Framework of the EU Defence Policy
2015
During the last year the security threats to the European Union have increased dramatically under the influence of military crisis in eastern Ukraine and Islamic terrorist activities in Europe. Consequently the demand for defence in the member states of the European Union has become greater than in previous years.This situation leads to the dilemma when the high level of defence expenditure can hamper the financial support of other sectors of national economy.Therefore it is necessary to increase the efficiency of available financial resources that have been allocated for the defence without a significant increase in defence expenditure. In order to achieve this efficiency the concept of cl…
L'euro à la lumière des théories monétaires holistes contemporaines
2008
The thesis begins by explaining, in a first part, the genealogy of a heterodox tradition called “holist monetary approach”, which refuses dichotomic theories and the classical conception of the veil of money. It shows the proximities of these positions with a tradition consisting in thinking money as a “total social fact” involving far more than the three usual economic functions attributed to money. Recent research works conducted in France around Aglietta and Orléan fit in with this tradition. The thesis also leans on theories developed in Keynes' wake, sharing with the “social fact” approaches a holist methodology. The latter involves a main focus on macroeconomic analysis, which is, in …
Reforming the international financial and monetary system: from Keynes to Davidson and Stiglitz
2004
International audience; With the usual debates trumpeting the usual merits of fixed versus flexible exchange rates, or some various incarnations thereof, the authors draw attention to Keynes's original plan for an international clearing union. The paper takes a close look at Joseph Stiglitz's recent suggestions to deal with financial crises along with Paul Davidson's Keynes-Post Keynesian clearinghouse. In the former case, the analysis is left wanting: the author offers nothing more than simple solutions to a system in need of dramatic changes. On the other hand, Davidson's analysis of the current state of affairs requires more than mere "plumbing" and addresses the root causes of the crise…