Akcije

Panoeconomicus
kako citirati ovaj članak
podeli ovaj članak

Metrika

  • citati u SCIndeksu: 0
  • citati u CrossRef-u:0
  • citati u Google Scholaru:[]
  • posete u poslednjih 30 dana:1
  • preuzimanja u poslednjih 30 dana:1

Sadržaj

članak: 1 od 1  
2008, vol. 55, br. 1, str. 89-114
Full employment as a possible objective for EU policy I: A perspective from the point of view of the monetary circuit
(naslov ne postoji na srpskom)
European Investment Bank

e-adresam.cingolani@eib.org
Sažetak
(ne postoji na srpskom)
In two recent contributions Alain Parguez and Jean-Gabriel Bliek argued in favor of assigning a full employment objective to European economic policies and their coordination (Bliek and Parguez (2007) and Parguez (2007b)). Their argument is based on the approach of the monetary circuit, whose treatment of full employment is the object of this article. The approach is presented here as emblematic of ′out of equilibrium′ models, i.e. models where the equilibrium conditions of pure competition are not fulfilled. A forthcoming contribution will show how the description of economic reality suggested by the circuit can help interpreting recent macroeconomic developments in the US, Canada, Japan and the EU and will discuss some empirical studies confirming its relevance for policy analysis.
Reference
Ackermann, F. (2002) Still dead after all these years: Interpreting the failure of general equilibrium theory. Journal of Economic Methodology, vol. 9, n. 2, str. 119-139
Allais, M. (1947) Economie et intérêt. Paris: Imprimerie Nationale, (republished by Clément Juglar, 1998)
Arena, R. (2004) Money in Wieser's social economics. u: Arena Richard, Salvadori Neri [ur.] Money, credit and the role of the state: Essays in honour of Augusto Graziani, Aldershot: Ashgate, str. 3-20
Arestis, P., Sawyer, M. (2004) Re-examining monetary and fiscal policy for the 21st century. Cheltenham, UK: Edward Elgar
Arrow, K.J., Hahn, F.H. (1971) General competitive analysis. Amsterdam
Barone, E. (1908) Il Ministro della Produzione nello stato collettivista. Giornale degli Economisti, str. 267-94 Settembre and str. 391-414, ottobre, (Republished in Alcuni studi di economia politica. Raccolta di scritti a cura dell'istituto di studi economici finanziari e statistici dell'università
Bliek, J.G., Parguez, A. (2007) Full employment: Can it be a key policy objective for Europe. International Journal of Political Economy, vol. 36, n. 3, str. 26-46
Bliek, J., Parguez, A. (2006) Le Plein Emploi ou le Chaos. Paris: Economica
Davidson, P. (1994) Post-Keynesian macroeconomic theory: A foundation for successful economic policies for the twenty-first century. Cheltenham: Edward Elgar
Davidson, P. (2005) Responses to Lavoie, King, and Dow on what Post-Keynesianism is and who is a Post-Keynesian. Journal of Post-Keynesian Economics, vol. 27, br. 3, str. 393-408, Spring
de la Croix, D., Michel, D. (2002) A theory of economic growth, dynamics and policy in overlapping generation models. Cambridge: Cambridge University Press
Debreu, G. (1959) Theory of value: An axiomatic analysis of economic equilibrium. New Haven - London: Yale University Press
Deleplace, G., Maurisson, P. (1985) L'hétérodoxie dans la pensée économique: K. Marx, J.M. Keynes and J.A. Schumpeter. Cahiers d'economie politique, Special issue, n. 10-11, Editions Anthropos
Demange, G., Laroque, G. (2001) Finance et Economie de l'Incertain. Paris: Economica
Donzelli, F. (1988) Introduzione. u: von Hayek Friedrich August [ur.] Conoscenza, mercato e pianificazione. Saggi di economia e epistemologia, Bologna: Il Mulino, str. 1-91
Fitoussi, J. (2005) La politique de l'impuissance, entretien avec Jean-Claude Guillebaud. Paris: Arléa
Fitoussi, J., le Cacheux, J. (2005) L'état de l'Union européenne 2005. Paris: Librairie Arthème Fayard et les Presses de Sciences Po
Fitoussi, J., Saraceno, F. (2004) The Brussels-Frankfurt-Washington consensus old and new tradeoffs in economics. Observatoire Français des Conjonctures Économiques, Working Papers n. 02
Fontana, G., Realfonzo, R. (2005) Introduction: The monetary theory of production. u: The monetary theory of production: Tradition and perspectives, New York: Palgrave Macmillan, str. 1-19
Friedman, M. (1953) The methodology of positive economics. u: Essays in positive economics, Chicago: University of Chicago Press, 1, 1989 edition
Friedman, M.R. (1970) A theoretical framework for monetary analysis. Journal of Political Economy, vol. 78, br. 2, str. 193-238, March-April
Galbraith, J.K. (2006) Endogenous doctrine, or, why is monetary policy in America so much better than in Europe. Journal of Post-Keynesian Economics, str. 423-432, vol. 28, number 3, Spring
Garegnani, P. (1964-1965) Note su consumi, investimenti e domanda effettiva. Economia Internazionale, n. 4/4, (republished in Garegnani, 1979, Valore e domanda effettiva. Torino, Einaudi)
Garegnani, P. (1976) On a change in the notion of equilibrium in recent work on value and distribution: A comment on Samuelson. u: Brown M., Sato K., Zarembka P. [ur.] Essays in modern capital theory, Amsterdam: North Holland
Garegnani, P. (2003) Savings, investment and capital in a system of general intertemporal equilibrium. u: Petri F., Hahn F. [ur.] General equilibrium: Problems and prospects, London: Routledge, str. 439-467
Giovannoni, O.G., Parguez, A. (2007) What drives profits?: An income spending model. u: Hein Eckhard, Truger Achim [ur.] Money, distribution and economic policy, Cheltenham: Edward Elgar, str. 97-118
Graziani, A. (1984) Interesse monetario e interesse reale. u: Costa Giacomo, i dr. [ur.] L'interesse reale e monetario, Milano: Franco Angeli, pp. 11-37
Graziani, A. (1984) The debate on Keynes finance motive. Economic Notes, 1, 5-32
Graziani, A. (1985) Le débat sur le 'motif de financement' de J.M: Keynes. Economie Appliquee, tome XXXVIII, n. 1, str. 159-175
Graziani, A. (1987) Keynes' finance motive. Economie et Societes, tome XXI, n. 9, str. 23-42, Série MP n. 4
Graziani, A. (1989) Money and finance in Joan Robinson's works. u: Feiwel George [ur.] The economics of imperfect competition: Joan Robinson and beyond, New York: New York University Press, 22, str. 613-30, (quoted in Parguez, 2005)
Graziani, A. (2003) The monetary theory of production. Cambridge: Cambridge University Press
Graziani, A. (1983) Interesse monetario e interesse reale. Storia di una controversia. Rivista Milanese di Economia, vol. 6, str. 77-108
Guesnerie, R. (2001) Assessing rational expectations: Sunspot multiplicity and economic fluctuations. Cambridge, Massachusetts: MIT Press
Guesnerie, R. (2005) Assessing rational expectations: Educative stability in economics. Cambridge, Massachusetts: MIT Press
Hahn, F. (1965) On some problems in proving the existence of equilibrium in a monetary economy. u: Hahn Frank, Brechling F. [ur.] The theory of interest rates, London: MacMillan, str. 126-35, (republished in Equilibrium and Macroeconomics, Oxford, Basil Blackwell, 1984)
Hahn, F. (1972) The share of wages in national income. London: Weidenfeld and Nicolson
Hahn, F. (2003) Macroeconomics and general equilibrium. u: Hahn F., Petri F. [ur.] General equilibrium: Problems and prospects, New York: Routledge, str. 206-215
Hahn, F. (2003) Macro foundations of micro-economics. Economic Theory, 21, str. 227-232
Hahn, F.H. (1982) The neo-Ricardians. Cambridge Journal of Economics, vol. 6, br. 4, str. 97-121, December
Harcourt, G.C. (1975) Theoretical controversy and social significance: An evaluation of the Cambridge controversies. Edward Shann Memorial Lecture, (republished in: Selected Essays in Economic Policy, New York, Palgrave, 2001)
Harcourt, G.C. (1996-1997) Critique and alternatives: Reflections on some recent (and not so recent) controversies. Journal of Post-Keynesian Economics, vol. 19, str. 171-180, (republished in 50 Years a Keynesian and Other Essays, New York, Palgrave, 2001)
Harcourt, G.C., Dalziel, P.C. (1997) A note on Mr. Meade's relation and international capital movements. Cambridge Journal of Economics, vol. 21, str. 621-631, (republished in 50 Years a Keynesian and Other Essays, New York, Palgrave, 2001)
Hicks, J.R. (1933) Gleichgewicht und Konjunktur. Zeitschrift fur Nationalokonomie, n. 4, (translated as ′Equilibrium and Cycles′, Money Interest and the Wages, str. 28-41)
Hicks, J.R. (1939) Value and capital. Oxford, itd: Oxford University Press
Kahn, R.F. (1931) The relation of home investment to unemployment. Economic Journal, June
Kalecki, M. (1933) Próba teorji konjunktury. u: Chilosi Alberto [ur.] Antologia di scritti di teoria economica, Bologna: Il Mulino, 79, (translated as ′Essay on Business Cycle Theory′, in Collected Works of Michael Kalecki, vol. 1, str. 67-81, Oxford, Claredon Press, 1990-91)
Kalecki, M. (1935) Istota poprawy koniunturalnej. Polska Gospodarcza, 43, (Partially translated in Italian in Antologia di scritti di teoria economica, Chilosi Alberto ed., Bologna, Il Mulino, 1979)
Kalecki, M. (1938) The determinants of distribution of the national income. Econometrica, vol. 6, n. 2, str. 97-112, April
Kalecki, M. (1954) Theory of economic dynamics: An essay on cyclical and long-run changes in capitalist economy. London: George Allen and Unwin
Keynes, J.M. (1933) No title. u: Der Stand und die nächste Zukunft de Konjunkturforschung, Festschrift für Arthur Spiethoff, Munich: Duncker & Humbolt, str. 123-125, (translated and reprinted, with addition of the title in ′A Monetary Theory of Production′, Nebraska Journal of Economics & Business, vol. 2 Issue 2, str. 7-10, Autumn 1963)
Kirman, A. (1989) The intrinsic limits of modern economic theory: The emperor has no clothes. Economic Journal, vol. 99, (Conference), str. 126-139
Knight, F.H. (1921) Risk, uncertainty and profit. Boston, MA: Houghton Mifflin
Koopmans, T.C. (1957) Three essays on the state of economic science. New York: McGraw-Hill, (Italian translation, Napoli, Liguori, 1978)
Kurz, H., Salvadori, N. (1995) Theory of production: A long period analysis. Cambridge: Cambridge University Press
Kurz, H., Salvadori, N. (2003) 'Classical' vs. 'neo-classical' theories of value and distribution and the long-period method. u: Petri F., Hahn F. [ur.] General equilibrium: Problems and prospects, London: Routledge, str. 216-245
Lavoie, M. (1987) Monnaie et production, une synthèse de la théorie du circuit. Economies et Societes, Serie Monnaie et Production, 4, 65-102
Lavoie, M. (1987) Macroéconomie théorie et controverses postkeynesiennes. Paris
Lavoie, M. (1992) Foundations of post-Keynesian economic analysis. Aldershot: Edward Elgar
Lavoie, M. (1999) The credit-led supply of deposits and the demand for money: Kaldor's reflux mechanism as previously endorsed by Joan Robinson. Cambridge Journal of Economics, 23, str. 103-113, (quoted in Parguez, 2005)
Lavoie, M. (2006) Do heterodox theories have anything in common? A Post-Keynesian point of view. Journal of Economics, vol. 3, br. 1, str. 87-112
le Bourva, J. (1962) Création de monnaie et multiplicateur du crédit. Revue economique, 23, 243-82, (translated and updated in Le Bourva J. 1992, Money Creation and Credit Multipliers, Review of Political Economy, 4.4, str. 447-466)
Leroy, R. (1983) Un scenario égalitaire. La distribution des revenues en perspective. Louvain La Neuve: Ciaco
Lindahl, E. (1928) The place of capital in the theory of price: Part III. u: Studies in the theory of money and capital
Lindahl, E. (1930) The rate of interest and the price level: Part II. u: Studies in the theory of money and capital
Lucas, R.E.Jr. (1972) Expectations and the neutrality of money. Journal of Economic Theory, april, str. 103-124
Lucas, R.E.Jr. (1975) Econometric policy evaluation: A critique. u: Brunner Karl i Meltzer Allan H. [ur.] The Phillips curve and labor markets: Carnbegie-Rochester Conference Series on Public Policy, Amsterdam, itd: North-Holland, str. 103-124, (republished in Studies in Busines Cycle Theory, str. 104-130, Cambridge, The MIT Press, 1981)
Mas-Colell, A., Whinston, M., Green, J. (1995) Microeconomic theory. Oxford: Oxford University Press
Masse, P. (1965) Le Plan ou l'anti-hasard. Paris: Hermann editeurs, (edition 1991)
Mccallum, B.T. (2001) Monetary policy analysis in a model without money. Federal Bank of St Louis Review, vol. 83, n. 4, str. 145-160
Messori, M. (2004) Credit and money in Schumpeter's theory. u: Arena R., Salvadori N. [ur.] Money, credit and the role of the state: Essays in honour of Augusto Graziani, Aldershot: Ashgate, str. 175-200
Meyer, L.H. (2001) Does money matter. Federal Bank of St Louis Review, vol. 83, n. 5, str. 1-15
Modigliani, F. (1944) Liquidity preference and the theory of interest and money. Econometrica, vol. 12, n. 1, str. 45-88, Jan
Modigliani, F. (1963) The monetary mechanism and its interaction with real phenomena. Review of Economics and Statistics, februar, (Supplement)
Parguez, A. (1975) Monnaie et macroéconomie. Théorie de la monnaie en déséquilibre. Paris: Economica
Parguez, A. (1981) Ordre social, monnaie et régulation. Economie Appliquee, 2-3, 383-448
Parguez, A. (1984) La dynamique de la monnaie. Economie et Societes, vol. XVIII, n. 4, str. 82-118, avril, (Série Monnaie et Production, n. 1)
Parguez, A. (1990) Le mythe du deficit au regard de la théorie du circuit. Economies et Societes, vol. XXIV, n. 2, févrir, (Série Monnaie et Production n. 6)
Parguez, A. (1991) L'inflation zéro: Un état ideal ou l'objectif impossible. Economie et Societes, 11-12, 61-89
Parguez, A. (1996) Beyond scarcity: A reappraisal of the theory of the monetary circuit. u: Deleplace G., Nell G. [ur.] Money in motion: The Post-Keynesian and circulation approaches, London: MacMillan, str. 155-199
Parguez, A. (2002) Monetary theory of public finance. International Journal of Political Economy, str. 80-97, vol. 32, br. 3, Fall
Parguez, A. (2005) An inquiry into a dark mystery of the history of the monetary theory of production: What went wrong with the early contribution of Joan Robinson?. u: Fontana G., Realfonzo R. [ur.] The monetary theory of production: Tradition and perspectives, New York: Palgrave Macmillan, str. 269-284
Parguez, A. (2007) How real is the real rate of interest. Austin, manuscript
Parguez, A. (2007) The monetary theory of unemployment and inflation or why there cannot be a trade-off between employment and inflation. u: Third International Post-Keynesian conference, Dijon, November, Paper presented
Parguez, A., Seccareccia, M. (2000) The credit theory of money: The monetary circuit approach. u: Smithin John [ur.] What is money?, New York: Routledge, str. 101-123
Pasinetti, L. (1981) Structural change and economic growth: A theoretical essay on the dynamics of the wealth of nations. Cambridge: Cambridge University Press
Pasinetti, L. (2000) Critique of the neoclassical theory of growth and distribution. Banca Nazionale del Lavoro Quarterly Review, n. 205, str. 383-431, Dec
Perroux, F. (1926) Le problème du profit. Paris: Marcel Giard libraire, (republished in Ouvres complètes, vol. VII, Presses Universitaires de Grenoble, Grenoble, 1996)
Petri, F. (1999) Professor Hahn on the ′neo-Ricardian′ criticism of neoclassical economics. u: Mongiovi G., Petri F. [ur.] Value, distribution and capital: Essays in honour of Pierangelo Garegnani, London: Routledge, str. 19-68
Petri, F. (2003) A 'Sraffian' critique of general equilibrium theory, and the classical-Keynesian alternative. u: Petri Fabio, Hahn Frank [ur.] General equilibrium: Problems and prospects, New York: Routledge, str. 387-421
Petri, F. (2004) General equilibrium, capital and macroeconomics: A key to recent controversies in economic theories. Cheltenham: Edward Elgar
Phelps, E.S. (1965) Second essay on the golden rule of capital. Accumulation American Economic Review, vol. 55, n. 4, str. 793-814, Sep
Pigou, A.C. (1933) Theory of unemployment. London: MacMillan
Pigou, A.C. (1950) Keynes general theory: A retrospective view. London: MacMillan
Robinson, J. (1956) The accumulation of capital. London-New York, itd: Macmillan Publishing
Robinson, J. (1962) Essays in the theory of economic growth. London: Macmillan
Robinson, J. (1975) The unimportance of reswitching. Quarterly Journal of Economics, vol. 89, n. 1, str. 32-9, Feb
Robinson, J. (1977) Michal Kalecki on the economics of capitalism. Oxford Bulletin of Economics and Statistics, str. 7-17, vol. 39, issue 1, Feb
Robinson, J. (1978) Keynes and Ricardo. Journal of Post-Keynesian Economics, Fall, vol. 1, str. 12-18, (quoted in Harcourt G.C., ′Post-Keynesian Thought′, in Harcourt, 50 years a Keynesian and other essays, str. 263-285, Palgrave, 2001)
Roncaglia, A. (1991) The Sraffian schools. Review of Political Economy, vol. 3, n. 2, str. 187-219
Roncaglia, A. (1999) Sraffa, la biografia, l'opera, le scuole. Bari: Laterza
Roncaglia, A. (2005) Il mito della mano invisibile. Roma: Laterza
Roncaglia, A., Sylos, L.P. (2002) Il pensiero economico. Temi e protagonisti. Roma: Laterza
Roncaglia, A., Tonveronachi, M. (1985) Pre-Keynesian roots of the neoclassical synthesis. Cahiers d'economie politique, n. 10 et 11, str. 51-65
Samuelson, P. (1966) A summing up. Quarterly Journal of Economics, vol. LXXX, n. 4, Nov., str. 568-583, (republished in The Collected Scientific Papers, str. 230-245, R.C. Merton ed., vol. 3, ch. 148, Cambridge Massachusetts, MIT Press, 1972, (1991 ed))
Samuelson, P. (1970) Maximum principles in analytical economics. u: Les prix Nobel en 1970. Stockholm, The Nobel Foundation, (republished in The Collected Scientific Papers, str. 2-15, R.C. Merton ed., vol. 3, ch. 130, Cambridge Massachusetts, MIT Press, 1972, (1991 edition))
Schefold, B. (1997) Normal prices, technical change and accumulation. London: Macmillan, Ch. 18
Schefold, B. (2003) Applications of the classical approach. u: Petri F., Hahn F. [ur.] General equilibrium: Problems and prospects, London: Routledge, str. 439-67
Schmitt, B. (1966) Monnaie, salaries et profits. Albeuve: Castella
Schmitt, B. (1972) Macroeconomic theory: A fundamental revision. Albeuve: Castella
Schmitt, B., Greppi, S. (1996) The national economy studied as a whole: Aspects of circular flow analysis in the German language. u: Deleplace G., Nell G. [ur.] Money in motion: The Post-Keynesian and circulation approaches, London: MacMillan, str. 341-64
Schumpeter, J. (1983) Histoire de l'analyse économique. Paris: Gallimard, (original English edition 1954)
Seccareccia, M. (1984) The fundamental macroeconomic link between investment activity, the structure of employment and price changes: A theoretical and empirical analysis. Economies et Societes, XVIII, n. 4, str. 165-219, (Série Monnaie et Production, n. 1)
Seccareccia, M., Sharpe, A. (1994) Canada's competitiveness, beyond the budget deficit. Economies et Societes, XXVIII n. 1-2, str. 275-300 (Série Monnaie et Production, n. 9)
Seccareccia, M. (1996) Post-Keynesian fundism and monetary circulation. u: Deleplace G., Nell G. [ur.] Money in motion: The Post-Keynesian and circulation approaches, London: MacMillan, str. 400-416
Sraffa, P. (1960) Produzione di merci a mezzo di merci. Premesse a una critica della teoria economica. Torino: Einaudi, (edited in English as production of Commodities by Means of Commodities, Cambridge, Cambridge University Press)
Sylos, L.P. (1948) Saggio dell'interesse e reddito sociale. Roma, Accademia Nazionale dei Lincei, Rendiconti, Series VIII, vol. 3, n. 11-12
Sylos, L.P. (1967) Prices and wages: A theoretical and statistical interpretation of Italian experience. Journal of Industrial Economics, vol. 15, n. 2, str. 109-128, April
Sylos, L.P. (1971) Introduzione all'edizione italiana. u: Schumpeter J.A. [ur.] Teoria dello sviluppo economico, Milano: Etas, str. XXI-XLI, reprint 2002
Sylos, L.P. (1985) Weintraub on the price level and macroeconomics. Journal of Post-Keynesian Economics, vol. 7, n. 4, str. 559-574, Summer
Sylos, L.P. (2004) Torniamo ai classici. Produttività del lavoro, progresso tecnico e sviluppo economico. Roma: Laterza
Vickrey, W. (1994) Necessary and optimum government debt. u: Arnott R., Arrow K., Atkinson A.B., Drèze J. [ur.] Public Economics, Cambridge: Cambridge University Press, Chapter 23, str. 421-431
Vickrey, W. (2000) We need a bigger deficit. u: Warner A.W., Forstater M., Rosen S.M. [ur.] Commitment to full employment: The economics and social policy of William S. Vickrey, New York: Sharpe, str. 189-192
von Hayek, F.A. (1928) Das intertemporale Gleichgewichtssystem der Preise und die Bewegungen des 'Geldwertes'. Weltwirtschaftliches Archiv, vol. XX-VIII, n. 2, str. 33-76, (translated in von Hayek, 1984, ′Intertemporal Price Equilibrium and Movements in the Value of Money′, in Money, Capital and Fluctuations, Early Essays, London, Routled
von Hayek, F.A. (1937) Economics and knowledge. Economica, vol. IV, n. 13, str. 33-54
Wicksell, K. (1898) Interest and prices. Jena: Fisher Verlag, (first English edition, London, Macmillan, 1936)
 

O članku

jezik rada: engleski
vrsta rada: izvorni naučni članak
DOI: 10.2298/PAN0801089C
objavljen u SCIndeksu: 05.05.2008.