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

ISBN-13: 9781138345584 / Angielski / Twarda / 2020 / 310 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

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

O autorze

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