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Theorising non-bank financial intermediation (2024)
Journal Article
Michell, J. (2024). Theorising non-bank financial intermediation. Review of Keynesian Economics, 12(2), 181-196. https://doi.org/10.4337/roke.2024.02.04

The expansion of non-bank financial intermediation (NBFI) presents a challenge for monetary theories which emphasise the macroeconomic significance of commercial bank lending. The heterodox literature which has emerged since the 2008 crisis falls rou... Read More about Theorising non-bank financial intermediation.

On the economics of cross-border reparation payments: The case for a bank of international reparations (2024)
Journal Article
Sissoko, C. (in press). On the economics of cross-border reparation payments: The case for a bank of international reparations. Development and Change,

This essay considers the challenge of ensuring that international reparation payments are effective in benefiting the recipient countries of the reparations. In order to ensure that these financial flows provide long-term benefit to the recipient eco... Read More about On the economics of cross-border reparation payments: The case for a bank of international reparations.

Karl Polanyi’'s and K. William Kapp’'s arguments on social costs: Is there a common “revolutionary” raison d’'être? (2024)
Journal Article
Berger, S. (2024). Karl Polanyi’'s and K. William Kapp’'s arguments on social costs: Is there a common “revolutionary” raison d’'être?. Ecological Economics, 219, Article 108131. https://doi.org/10.1016/j.ecolecon.2024.108131

This article examines Karl Polanyi's and K. William Kapp's social cost proposals to test their suitability for a “revolutionary” Social Ecological Economics that radically breaks with neoclassical and neoliberal paradigms. Whilst some coherence is re... Read More about Karl Polanyi’'s and K. William Kapp’'s arguments on social costs: Is there a common “revolutionary” raison d’'être?.

Individualism, universalism and climate change (2024)
Journal Article
Hinks, T., & Douarin, E. (in press). Individualism, universalism and climate change. Journal of Institutional Economics, 20, Article e17

Is “individualism” pure selfishness?. The climate change literature often assumes so. However, individualism can be seen as capturing values aligned with self-determination and self-achievement but also universalism. Indeed, cultural psychology recog... Read More about Individualism, universalism and climate change.

CORE Econ: A neoclassical synthesis for the twenty-first century? (2023)
Journal Article
Michell, J. (2023). CORE Econ: A neoclassical synthesis for the twenty-first century?. Advances in Economics Education, 2(2), 145–162

This paper provides a critical review of CORE Econ’s The Economy and associated materials. It argues that there is a need for reworked economics textbooks and that CORE Econ’s approach to this project – to replace mathematical abstractions with relev... Read More about CORE Econ: A neoclassical synthesis for the twenty-first century?.

Rentiers and distributive conflict in Brazil (2000–2019) (2023)
Journal Article
Marques, P. R., & Rugitsky, F. (2024). Rentiers and distributive conflict in Brazil (2000–2019). Cambridge Journal of Economics, 48(2), 275-302. https://doi.org/10.1093/cje/bead053

The paper examines the determinants of rentier income in contemporary financialised capitalist economies by analysing the case of Brazil. It argues that different drivers of rentier income may have comparable potential to channel a substantial share... Read More about Rentiers and distributive conflict in Brazil (2000–2019).

What is heterodox economics? Insights from interviews with leading thinkers (2023)
Journal Article
Mearman, A., Berger, S., & Guizzo, D. (2023). What is heterodox economics? Insights from interviews with leading thinkers. Journal of Economic Issues, 57(4), 1119-1141

This article investigates heterodox economics, drawing on data from interviews we conducted with leading economists, using thematic analysis to identify three core concerns of our respondents: realism, power, and pluralism. Heterodox economists appea... Read More about What is heterodox economics? Insights from interviews with leading thinkers.

Macroeconomic policy at the end of the age of abundance (2023)
Journal Article
Michell, J. (2023). Macroeconomic policy at the end of the age of abundance. European Journal of Economics and Economic Policies: Intervention, 20(2), 369-387. https://doi.org/10.4337/ejeep.2023.0122

Progressive policy proposals influenced by post-Keynesian economics emphasise the use of fiscal policy and income redistribution to maintain aggregate demand at levels which achieve full employment. Given persistent evidence of weak demand, excess ca... Read More about Macroeconomic policy at the end of the age of abundance.

Dollar liquidity, financial vulnerability and monetary sovereignty (2023)
Journal Article
Jump, R. C., & Michell, J. (2023). Dollar liquidity, financial vulnerability and monetary sovereignty. Development and Change, 55(5), 1087-1113. https://doi.org/10.1111/dech.12799

Periods of dollar-led global monetary tightening generate negative effects in many lower- and middle-income countries. The tightening cycle which commenced in early 2022 has exacerbated the financial dislocation experienced by countries including Zam... Read More about Dollar liquidity, financial vulnerability and monetary sovereignty.

UK pension funds’ patience and liquidity in the age of market-based finance (2023)
Journal Article
Bonizzi, B., Churchill, J., & Kaltenbrunner, A. (2023). UK pension funds’ patience and liquidity in the age of market-based finance. New Political Economy, 28(5), 780-798. https://doi.org/10.1080/13563467.2023.2184469

Pension funds have often failed to meet expectations in terms of providing ‘patient capital’. Explanations for this lapse have ranged over regulatory and ideational factors. We argue that a new ‘impatient’ phenomenon is emerging that requires further... Read More about UK pension funds’ patience and liquidity in the age of market-based finance.

Does the emerging middle class support democracy? A comparative analysis of China, countries with authoritarian political regimes and recent post-socialist democracies (2023)
Journal Article
Ivlevs, A. (2023). Does the emerging middle class support democracy? A comparative analysis of China, countries with authoritarian political regimes and recent post-socialist democracies. Journal of Economic Issues, 57(1), 62-79. https://doi.org/10.1080/00213624.2023.2154537

Does the emerging middle class support democracy? This study provides a comparative analysis of political attitudes, actions, and preferences of the middle class in China, other countries characterized by authoritarian political regimes/tendencies (R... Read More about Does the emerging middle class support democracy? A comparative analysis of China, countries with authoritarian political regimes and recent post-socialist democracies.

The return of austerity imperils global health (2023)
Journal Article
Stubbs, T., Kentikelenis, A., Gabor, D., Ghosh, J., & McKee, M. (2023). The return of austerity imperils global health. BMJ Global Health, 8(2), e011620. https://doi.org/10.1136/bmjgh-2022-011620

Recognising the world's lack of preparedness for the COVID-19 pandemic, international organisations like the World Health Organization, World Bank, and International Monetary Fund are calling for extensive additional funding to strengthen pandemic pr... Read More about The return of austerity imperils global health.

Institutional supercycles: An evolutionary macro-finance approach (2023)
Journal Article
Dafermos, Y., Gabor, D., & Michell, J. (2023). Institutional supercycles: An evolutionary macro-finance approach. New Political Economy, 28(5), 693-712. https://doi.org/10.1080/13563467.2022.2161497

We build upon the Minskyan concepts of ‘thwarting mechanisms’ and ‘supercycles’ to develop a framework for analysing the dynamic evolutionary interactions between macrofinancial, institutional and political processes. Thwarting mechanisms are institu... Read More about Institutional supercycles: An evolutionary macro-finance approach.

Oil and US stock market shocks: Implications for Canadian equities (2023)
Journal Article
Heinlein, R., & Mahadeo, S. (2023). Oil and US stock market shocks: Implications for Canadian equities. Canadian Journal of Economics / Revue Canadienne d'Économique, 56(1), 247-287. https://doi.org/10.1111/caje.12641

Oil and US stock market shocks are relevant to Canadian equities because Canada is an oil exporter exposed to market developments in the wider continent. We evaluate how the relationship between Canadian stock market indices and such external shocks... Read More about Oil and US stock market shocks: Implications for Canadian equities.

Family influences on migration intentions: The role of past experience of involuntary immobility (2022)
Journal Article
Brunarska, Z., & Ivlevs, A. (2023). Family influences on migration intentions: The role of past experience of involuntary immobility. Sociology, 57(5), 1060-1077. https://doi.org/10.1177/00380385221136060

The article examines the relationship between past experience of involuntary immobility in a family and the current migration intentions of its members. While family migration experience has been shown to be positively related to migration intentions... Read More about Family influences on migration intentions: The role of past experience of involuntary immobility.

Do international tourist arrivals change residents’ attitudes towards immigration? A longitudinal study of 28 European countries (2022)
Journal Article
Ivlevs, A., & Smith, I. (2024). Do international tourist arrivals change residents’ attitudes towards immigration? A longitudinal study of 28 European countries. Tourism Economics, 30(1), 104-131. https://doi.org/10.1177/13548166221137950

Can international tourist arrivals change residents’ attitudes towards immigrants and immigration? We discuss possible underlying mechanisms and provide the first evidence on this question using data from the European Social Survey (2002–2019; n=333,... Read More about Do international tourist arrivals change residents’ attitudes towards immigration? A longitudinal study of 28 European countries.

Notas sobre acumulação de capital e “epidemias” contemporâneas (2022)
Journal Article
Rugitsky, F. (2022). Notas sobre acumulação de capital e “epidemias” contemporâneas. Cadernos de Saúde Pública, 38(suppl 2), Article e00081921. https://doi.org/10.1590/0102-311x00081921

Em alguns anos, quando a humanidade tiver finalmente superado o estado de calamidade causado pelo novo coronavírus, é possível que reste a sensação de que a pandemia foi uma crise pontual, um ponto fora das longas curvas de redução da taxa de mortali... Read More about Notas sobre acumulação de capital e “epidemias” contemporâneas.

Corporate mindfulness culture and neoliberalism (2022)
Journal Article
Wrenn, M. V. (2022). Corporate mindfulness culture and neoliberalism. Review of Radical Political Economics, 54(2), 153-170. https://doi.org/10.1177/04866134211063521

Corporate mindfulness is the favorite labor management technique of the neoliberal period. The formalized packaging of corporate mindfulness began in the late 1970s but was built on a long tradition of attempts to hack the minds of workers in the Uni... Read More about Corporate mindfulness culture and neoliberalism.