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Euro Area Balance Of Payments, Again!
… But more disturbing still is the notion that with a common currency the ‘balance or payments problem’ is eliminated and therefore that individual countries are relieved of the need to pay for their...
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Sergio Cesaratto — The Nature Of The Eurocrisis: A Reply To Febrero, Uxó And...
Recently I commented on a paper, The Financial Crisis In The Eurozone: A Balance-Of-Payments Crisis With A Single Currency? by Eladio Febrero, Jorge Uxó and Fernando Bermejo, published in ROKE, Review...
View ArticleThe Burden Of Adjustment And Keynes’ Solution
Argentina had a balance-of-payments crisis recently and required help. The IMF has agreed for a stand-by arrangement of $50 billion on the condition in the IMF’s own words: “At the core of the...
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Brad Setser On The U.S., China And The New “Adjusted Trade Balance”
Since Donald Trump considers the US trade imbalance as the root of all problems and there is—understandably for many reasons—a resistance to Trump, there is a tendency to deny anything he says. This...
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Doug Henwood In Jacobin On Neochartalism
Doug Henwood In Jacobin On Neochartalism On Facebook, Doug Henwood says that he wanted the title The Phantasmic World Of Modern Monetary Theory, A Late Imperial Fever Dream for his piece critiquing...
View ArticleMatias Vernengo — Forty Years Of Balance Of Payments Constrained Growth And...
Matias Vernengo — Forty Years Of Balance Of Payments Constrained Growth And Thirlwall’s Law According to Matias Vernengo, Review Of Keynesian Economics (ROKE) will soon publish a special issue on...
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The Cambridge Political Economy Society Digital Archive
I came across the Cambridge Political Economy Society digital archive today. It has scans of papers which aren’t available elsewhere. There’s an interesting article, Causes Of Growth And Recession In...
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Anthony Thirlwall — Thoughts On Balance-Of-Payments-Constrained Growth After...
Anthony Thirlwall — Thoughts On Balance-Of-Payments-Constrained Growth After 40 Years ROKE (Review Of Keynesian Economics) has a special issue, Thirlwall’s Law At 40, celebrating Thirlwall’s law which...
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Endogeneity Of Income Elasticities Of Trade
Robert Blecker and Mark Setterfield have a new book, Heterodox Macroeconomics: Models Of Demand, Distribution And Growth. In that there’s a chapter, Balance-Of-Payments Constrained Growth II:...
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Nicholas Kaldor’s View That Exports Is The Only Exogenous Source Of Demand
From a Twitter discussion on balance-of-payments, I was reminded of a section of John E. King’s 2009 biography of Nicholas, titled by the name. From pages 193‒195 (+ endnote + references in...
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