Limits of policy intervention in a world of neoliberal mechanism designs: Paradoxes of the global crisis

Panoeconomicus

Volumn 58, Issue 3, 2011, Pages 285-308

  Dymski, Gary A ^a  

^a UNIVERSITY OF CALIFORNIA   (United States)

Author keywords

Bradford De Long; Capital mobility; Globalization; Hyman Minsky; Keynesian Monetarist controversy; Neoliberal mechanism design; Policy activism

Indexed keywords

EID: 80053086786     PISSN: 1452595X     EISSN: None     Source Type: Journal    
DOI: 10.2298/PAN1103285D     Document Type: Article

References (45)

1. Bernanke, Ben, and Mark Gertler. 1989. Agency Costs, Net Worth, and Business Fluctuations. American Economic Review, 79(1): 14-31.
2. Blecker, Robert A. 2003. The North American Economies After NAFTA: A Critical Appraisal. International Journal of Political Economy, 33(3): 5-27.
3. Brunnermeier, Markus K., and Stefan Nagel. 2004. Hedge Funds and the Technology Bubble. Journal of Finance, 59(5): 2013-2040.
4. Cass, David, and Karl Shell. 1980. In Defense of a Basic Approach. In Models of Monetary Economies, ed. John H. Kareken and Neil Wallace, 251-260. Minneapolis: Federal Reserve Bank of Minneapolis.
5. Cassidy, John. 2008. The Minsky Moment. New Yorker. February 4, 2008.
6. Castells, Manuel. 1996. The Rise of the Network Society. New York: John Wiley and Sons.
7. Cochrane, John. 2009. How Did Paul Krugman Get It So Wrong? http://faculty.chicagobooth.edu/john.cochrane/research/papers/krugman_response.htm.
8. Davis, Andrew. 2011. Europe Stumbles toward a Tighter Union. Bloomsberg Businessweek. August 11, 2011.
9. De Long, Bradford J. 2002. Book review of John Maynard Keynes: Fighting for Britain by Robert Skidelsky. Journal of Economic Literature, XL: 155-162.
10. De Long, Bradford J. 2011a. Economics in Crisis. The Economists' Voice. May, 2011.
11. De Long, Bradford J. 2011b. John Stewart Mill vs. the European Central Bank. Project Syndicate. July 29, 2010.
12. De Long, Bradford J., and Lawrence H. Summers. 1988. How does Macroeconomic Policy Affect Output? Brookings Papers on Economic Activity, 2: 433-480.
13. De Long, Bradford J., and Lawrence H. Summers. 1992. Equipment Investment and Economic Growth: How Strong is the Nexus? Brookings Papers on Economic Activity, 2: 157-199.
14. Dymski, Gary A. 2002. Post-Hegemonic U.S. Economic Hegemony: Minskian and Kaleckian Dynamics in the Neoliberal Era. Keizai Riron Gakkai Nempo (Journal of the Japanese Society for Political Economy), 39: 247-264.
15. Dymski, Gary A. 2009. Financial Risk and Governance in the Neoliberal Era. In Managing Financial Risks: From Global to Local, ed. Gordon L. Clark, Adam D. Dixon, and Ashby H. B. Monk, 48-68. Oxford: Oxford University Press.
16. Dymski, Gary A. 2011a. On the Possible Replacement of the Efficient-Market Hypothesis: Social Efficiency as a Thick Approach to Financial Policy. International Papers in Political Economy. Forthcoming.
17. Dymski, Gary A. 2011b. Keynesian Approaches to Financial Crisis. In A Modern Guide to Keynesian Macroeconomics and Economic Policies, ed. Eckhard Hein and Engelbert Stockhammer, 325-353. Cheltenham: Edward Elgar.
18. Dymski, Gary A. 2011c. The International Debt Crisis. In Handbook of Globalisation, ed. Jonathan Michie. Cheltenham: Edward Elgar.
19. Dymski, Gary A. 2011d. Genie out of the Bottle: The Evolution of Too-Big-to-Fail Policy and Banking Strategy in the US. Mimeo, University of California, Riverside.
20. Galbraith, James K. 2011. Could Europe's Political Project Go the Way of the US Confederacy? http://www.newdeal20.org/2011/07/11/could-europes-political-projectgo-the-way-of-the-us-confederacy-51092/.
21. Goodhart, Charles A. 1988. The Evolution of Central Banks. Cambridge, MA: MIT Press.
22. Hahn, Frank. 1980. Discussion. In Models of Monetary Economies, ed. John H. Kareken and Neil Wallace, 61-66. Minneapolis: Federal Reserve Bank of Minneapolis.
23. Hufbauer, Gary C., and Jeffrey J. Schott. 2005. NAFTA Revisited: Achievements and Challenges. Washington DC: Peterson Institute for International Economics.
24. Kareken, John H., and Neil Wallace. 1980. Models of Monetary Economies. Minneapolis: Federal Reserve Bank of Minneapolis.
25. Kiyotaki, Nobuhiro, and John Moore. 1997. Credit Cycles. Journal of Political Economy, 105(2): 211-248.
26. Krugman, Paul. 2009. How Did Economists Get It So Wrong? New York Times. September 6, 2009.
27. Lucas, Jr., Robert E. 1987. Models of Business Cycles. New York: Blackwell Publishers.
28. Mankiw, Gregory N. 1988. 'Comment' on De Long and Summers. Brookings Papers on Economic Activity, 2: 481-500.
29. Minsky, Hyman P. 1986. Stabilizing an Unstable Economy. New Haven: Yale University Press.
30. Minsky, Hyman P. 1996. Uncertainty and the Institutional Structure of Capitalist Economies. Journal of Economic Issues, 2: 357-369.
31. Myerson, Roger B. 2008. Mechanism Design. In The New Palgrave Dictionary of Economics: Second Edition, ed. Steven N. Durlauf and Lawrence E. Blume. New York: Palgrave Macmillan.
32. Rizvi, Abu Turab S. 2006. The Sonnenschein-Mantel-Debreu Results after Thirty Years. History of Political Economy, 38: 228-245.
33. Romer, Christina. 1988. 'Comment' on De Long and Summers. Brookings Papers on Economic Activity 2: 485-490.
34. Scott, Robert E. 2003. The High Price of 'Free' Trade. Economic Policy Institute Briefing Paper 147.
35. Shleifer, Andrei, and Robert W. Vishny. 1997. The Limits of Arbitrage. Journal of Finance, 52(1): 35-55.
36. Spiegel, Peter. 2011. Europe Struggles with Path to Fiscal Union. Financial Times. August 21, 2011.
37. Stephens, Philip. 2009. The Global Consensus is Starting to Crack. Financial Times. September 3, 2009.
38. Tobin, James. 1972. Unemployment and Inflation. American Economic Review, 62(1/2): 1- 18.
39. Tobin, James. 1980. Discussion. In Models of Monetary Economies, ed. John H. Kareken and Neil Wallace, 83-90. Minneapolis: Federal Reserve Bank of Minneapolis.
40. Varoufakis, Yanis. 2011. The Global Minotaur: America, the True Origins of the Financial Crisis, and the Future of the World Economy. London: Verso Press.
41. Wallace, Neil. 1980. The Overlapping Generations Model of Fiat Money. In Models of Monetary Economies, ed. John H. Kareken and Neil Wallace, 49-82. Minneapolis: Federal Reserve Bank of Minneapolis.
42. Wolf, Martin. 2008. The End of Lightly Regulated Finance has Come Far Closer. Financial Times. September 16, 2008.
43. Wolf, Martin. 2011. Struggling with a Great Contraction. Financial Times. August 30, 2011.
44. Wright, Randall. 2005. Introduction to 'Models of Monetary Economies II: The Next Generation'. Quarterly Review of the Federal Reserve Bank of Minneapolis, 2005: 2-9.
45. Zoellick, Robert. 2009. Heed the Danger of Asset Bubbles. Financial Times. November 24, 2009.