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

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
Romero Marques, P., & Rugitsky, F. (in press). Rentiers and distributive conflict in Brazil (2000-2019). Cambridge Journal of Economics, 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).

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.

The macroeconomics of austerity (2023)
Report
Michell, J., Calvert Jump, R., Meadway, J., & Nasciemento, N. (2023). The macroeconomics of austerity. https://progressiveeconomyforum.com: Progressive Economy Forum

A new study from the thinktank the Progressive Economics Forum (PEF), published today, uses official figures to show that the total economic damage inflicted by austerity is significantly higher than previously thought, needlessly cutting more than h... Read More about The macroeconomics of austerity.

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.

Creating jobs in low- and middle-income countries through demand-side policies (2023)
Report
Michell, J., & Aboobaker, A. (2023). Creating jobs in low- and middle-income countries through demand-side policies. https://www.ilo.org: International Labour Organisation (ILO)

This brief focuses on demand-side policies for promoting employment in LMCs. The shifting consensus on macroeconomic policy in advanced economies, alongside growing acceptance of industrial policy, provides an important opportunity for reconsideratio... Read More about Creating jobs in low- and middle-income countries through demand-side policies.

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.

Tracing the sources of contagion in the oil-finance nexus (2022)
Book Chapter
Mahadeo, S., Heinlein, R., & Legrenzi, G. (2022). Tracing the sources of contagion in the oil-finance nexus. In C. Floros, & I. Chatziantoniou (Eds.), Applications in Energy Finance (115-143). Springer. https://doi.org/10.1007/978-3-030-92957-2_5

We introduce an approach to trace the genesis of contagion occurring in the oil-finance nexus, which consolidates veteran non-linear oil price measures derived from the empirical oil literature, to construct a rule-based specification for filtering s... Read More about Tracing the sources of contagion in the oil-finance nexus.

Dow, Keynes and the pragmatic tradition: More in common? (2022)
Book Chapter
Churchill, J. (2022). Dow, Keynes and the pragmatic tradition: More in common?. In I. Negru, & P. Hawkins (Eds.), Economic Methodology, History and Pluralism: Expanding Economic Thought to Meet Contemporary Challenges. Taylor & Francis. https://doi.org/10.4324/9781003142324

Dow has demonstrated the significance of methodology for delineating schools of thought in macroeconomics. One methodological distinction relates to the perceived importance of uncertainty, especially for the economic theorist. Placing uncertainty ce... Read More about Dow, Keynes and the pragmatic tradition: More in common?.

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.

The dangerous fiction of the "fiscal black hole" (2022)
Report
Michell, J., & Calvert Jump, R. (2022). The dangerous fiction of the "fiscal black hole". Progressive Economy Forum

Media reporting of the economy and choices facing the new Prime Minister and Chancellor has focused on a supposed ‘black hole’ in the public finances, typically given as being around £50bn in five years’ time. This has been presented as an urgent pri... Read More about The dangerous fiction of the "fiscal black hole".

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.