Global Imbalances and Financial Capitalism: Stock-Flow-Consistent Modelling

ISBN-13: 9781032236049 / Angielski / Miękka / 2021 / 318 str.

Jacques Mazier

Opis

The failure of mainstream economics to accurately predict financial crises highlights the need for alternative frameworks. Global Imbalances and Financial Capitalism demonstrates that Stock-Flow-Consistent models are well adapted to study this growth regime due to their ability to analyse the real and financial sides of the economy.

Recenzje

"This is the first book that combines in a systematic way two essential macroeconomic approaches that are essential to our understanding of international macroeconomic imbalances: the well-known Fundamental Equilibrium Exchange Rate (FEER) and the ever-more popular post-Keynesian stock-flow consistent (SFC) approach." - Marc Lavoie, Senior Research Chair, University of Sorbonne Paris Cité, France

Spis treści

(0) Introduction (a) Part 1 - Finance-led regime and global imbalances: a first glance (1) Chapter 1 A simple finance-led SFC model (2) Chapter 2 Exchange rate misalignments and global imbalances (3) Chapter 3 Global imbalances and macroeconomic adjustments: a three-country SFC model (b) Part 2 - European challenges (4) Chapter 4 From the European Monetary System to the single currency trap (5) Chapter 5 Alternative economic policies in the euro zone (6) Chapter 6 Alternative exchange rate regimes for the euro zone (c) Part 3 - Enhancing regional and international monetary stability (7) Chapter 7 Exploring monetary cooperation in East Asia (8) Chapter 8 Enhancing the role of the SDR (9) Conclusion

O autorze

Jacques Mazier is Professor Emeritus at the University Sorbonne Paris Nord, CEPN-CNRS, France.