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Can indeterminacy and self-fulfilling expectations help explain international business cycles? A preliminary investigation (2015)
Working Paper
McKnight, S., & Povoledo, L. Can indeterminacy and self-fulfilling expectations help explain international business cycles? A preliminary investigation

We introduce equilibrium indeterminacy into a two-country incomplete asset model with imperfect competition and analyze whether self-fulfilling, belief-driven fluctuations (i.e., sunspot shocks) can help resolve the major puzzles of international bus... Read More about Can indeterminacy and self-fulfilling expectations help explain international business cycles? A preliminary investigation.

Envy in neoliberalism: Revisiting Veblen's emulation and invidious distinction (2015)
Journal Article
Wrenn, M. V. (2015). Envy in neoliberalism: Revisiting Veblen's emulation and invidious distinction. Journal of Economic Issues, 49(2), 503-510. https://doi.org/10.1080/00213624.2015.1042796

© 2015, Journal of Economic Issues / Association for Evolutionary Economics. Cautionary tales admonishing against the evils of envy crowd religion and folklore across cultures. Pre-capitalist societies attempted to suppress envy, and familial and com... Read More about Envy in neoliberalism: Revisiting Veblen's emulation and invidious distinction.

Inconvenient glow: Cliometrics and the "golden age" of capitalism (2014)
Journal Article
Rugitsky, F. (2014). Inconvenient glow: Cliometrics and the "golden age" of capitalism. Brazilian Journal of Political Economy, 34(4), 587-607. https://doi.org/10.1590/s0101-31572014000400005

This paper aims to criticize the recent cliometrics literature on the so-called "golden age" of capitalism. The works of Nicholas Crafts, Gianni Toniolo, and Barry Eichengreen are reconstructed in order to reveal the main characteristics of this rese... Read More about Inconvenient glow: Cliometrics and the "golden age" of capitalism.

Unveiling and deconstructing the enabling myths of neoliberalism through immanent critique (2014)
Journal Article
Wrenn, M. (2014). Unveiling and deconstructing the enabling myths of neoliberalism through immanent critique. Journal of Economic Issues, 48(2), 477-484. https://doi.org/10.2753/JEI0021-3624480222

In the deconstruction of the neoliberal narrative through immanent critique, we find that it is woven from enabling myths that not only support the neoliberal project, but are essential for its continued survival. This research aims to untangle and c... Read More about Unveiling and deconstructing the enabling myths of neoliberalism through immanent critique.

Macroprudential regulations as counter-cyclical tools: The case of Turkey (2014)
Presentation / Conference
Gezici, A., & Erten, B. (2014, January). Macroprudential regulations as counter-cyclical tools: The case of Turkey. Paper presented at URPE at ASSA 2014, Philadelphia

This paper analyzes the effectiveness of macroprudential regulations adopted by the Central Bank of Turkey in the aftermath of the global financial crisis. In particular, we examine the effects of the domestic policy rate and the reserve requirements... Read More about Macroprudential regulations as counter-cyclical tools: The case of Turkey.

The Social Ontology of Fear and Neoliberalism (2014)
Journal Article
Wrenn, M. V. (2014). The Social Ontology of Fear and Neoliberalism. Review of Social Economy, 72(3), 337-353. https://doi.org/10.1080/00346764.2014.927726

Fear is a primal instinct; it is a survival mechanism the evolution of which allowed the early humans, indeed all species to adapt, evolve, and survive. When humans moved into settled communities with more advanced means of production, the nature of... Read More about The Social Ontology of Fear and Neoliberalism.

Identity, identity politics, and neoliberalism (2014)
Journal Article
Wrenn, M. (2014). Identity, identity politics, and neoliberalism. Panoeconomicus, 61(4), 503-515. https://doi.org/10.2298/PAN1404503W

With the intensification of neoliberalism, it is useful to examine how some individuals might cope with the irrationality of the system. Neoliberalism cloaks the execution of the corporate agenda behind rhetorical manipulation that advocates for limi... Read More about Identity, identity politics, and neoliberalism.

Degree of monopoly and class struggle: Political aspects of Kalecki’s pricing and distribution theory (2013)
Journal Article
Rugitsky, F. (2013). Degree of monopoly and class struggle: Political aspects of Kalecki’s pricing and distribution theory. Review of Keynesian Economics, 1(4), 447-464. https://doi.org/10.4337/roke.2013.04.06

The aim of this paper is to analyse the concept of class struggle in Michal Kalecki’s writings. First, his inclusion of trade unions’ strength as one of the determining elements of the degree of monopoly is examined, taking into consideration Abba Le... Read More about Degree of monopoly and class struggle: Political aspects of Kalecki’s pricing and distribution theory.

A note on the volatility of the tradeable and nontradeable sectors (2013)
Journal Article
Povoledo, L. (2013). A note on the volatility of the tradeable and nontradeable sectors. Macroeconomic Dynamics, 17(5), 1158-1168. https://doi.org/10.1017/S1365100511000782

This note evaluates whether a New Open Economy model can reproduce qualitatively the observed fluctuations of the tradeable and nontradeable sectors of the U.S. economy. The answer is positive: both in the model and in the data, the standard deviatio... Read More about A note on the volatility of the tradeable and nontradeable sectors.

Can producer currency pricing models generate volatile real exchange rates? (2012)
Journal Article
Povoledo, L. (2012). Can producer currency pricing models generate volatile real exchange rates?. Economics Letters, 116(3), 436-439. https://doi.org/10.1016/j.econlet.2012.04.033

If the elasticities of substitution between traded and nontraded and between Home and Foreign traded goods are sufficiently low, then the real exchange rate generated by a model with full producer currency pricing is as volatile as in the data. © 201... Read More about Can producer currency pricing models generate volatile real exchange rates?.

Effects of Monetary Policy on the US Dollar/UK Pound Exchange Rate. Is There a "Delayed Overshooting Puzzle"? (2012)
Journal Article
Heinlein, R., & Krolzig, H. M. (2012). Effects of Monetary Policy on the US Dollar/UK Pound Exchange Rate. Is There a "Delayed Overshooting Puzzle"?. Review of International Economics, 20(3), 443-467. https://doi.org/10.1111/j.1467-9396.2012.01033.x

The determination of the US dollar/UK pound sterling exchange rate is studied in a small symmetric macroeconometric model including UK-US differentials in inflation, output gap, and short- and long-term interest rates for the four decades since the b... Read More about Effects of Monetary Policy on the US Dollar/UK Pound Exchange Rate. Is There a "Delayed Overshooting Puzzle"?.

Agency, identity, and the great crisis: A veblenian perspective (2012)
Journal Article
Wrenn, M. (2012). Agency, identity, and the great crisis: A veblenian perspective. Journal of Economic Issues, 46(2), 403-410. https://doi.org/10.2753/JEI0021-3624460215

Within neoliberalism, an individual's agency and identity are fundamentally different than at any other stage in human development. The argument set forth is that within neoliberalism, agency and identity are, respectively, falsified and fluid, which... Read More about Agency, identity, and the great crisis: A veblenian perspective.

Does Asia’s choice of exchange rate regime affect Europe’s exposure to US shocks? (2011)
Journal Article
Markovic, B., & Povoledo, L. (2011). Does Asia’s choice of exchange rate regime affect Europe’s exposure to US shocks?. Economic Issues, 16(2), 1-38

In this paper we use a stylised three-country model to analyse how the transmission of US shocks to Europe might be affected by Asia’s choice of exchange rate regime. We find that if Asia pegs her exchange rate to the dollar, the impact of US shocks... Read More about Does Asia’s choice of exchange rate regime affect Europe’s exposure to US shocks?.

The economic surplus as a fund for social change and post-neoliberal governance (2011)
Journal Article
Wrenn, M. (2011). The economic surplus as a fund for social change and post-neoliberal governance. Forum for Social Economics, 40(1), 99-117. https://doi.org/10.1007/s12143-010-9071-8

The central problem in capitalism today is not one of scarce resources clashing against innate, insatiable wants. Rather, the modern problem of monopoly capitalism is one of abundance of production clashing against scarcity of consumers. Indeed, su... Read More about The economic surplus as a fund for social change and post-neoliberal governance.

The inheritance of heterodox economic thought: An examination of history of economic thought textbooks (2009)
Journal Article
Wrenn, M. (2009). The inheritance of heterodox economic thought: An examination of history of economic thought textbooks. Journal of Philosophical Economics, 2(2), 78-98

The inheritance of heterodox economics hinges upon the degree to which the next generation is exposed to the history of the discipline’s thought. The potential to include heterodox thought into the curriculum presents itself most easily through hist... Read More about The inheritance of heterodox economic thought: An examination of history of economic thought textbooks.

The emperor’s new clothes - A political economy study of the South African textiles and clothing industry
Thesis
Takala-Greenish, L. (2015). The emperor’s new clothes - A political economy study of the South African textiles and clothing industry. (Thesis). University of the London, School of Oriental and African Studies. Retrieved from https://uwe-repository.worktribe.com/output/830847

Abstract The decline of South African textiles and clothing has been explained as the outcome of different influences depending on various ideological and methodological inclinations as well as theoretical traditions. For example, the rise in labour... Read More about The emperor’s new clothes - A political economy study of the South African textiles and clothing industry.