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 Research Projects at the MPIfG

Bringing Macroeconomics Back Home

Riccardo Pariboni


 
Several attempts have been made in recent years to encourage cross-pollination between two research fields that, despite their many possible connections, had not been talking to each other: comparative political economy (CPE) and post-Keynesian economics. Most of the credit for these attempts goes to authors from the former tradition and to their desire to bring macroeconomics back into the CPE discourse, but this time “for real.” This has meant gradually abandoning the standard macro workhorse adopted by authors in the varieties of capitalism tradition, namely, the New Keynesian-inspired 3-equation model, due to its (almost) exclusive focus on supply-side issues and to its disheartening policy implications. This project aims to build a simple and tractable demand-led growth model that best suits the CPE need for a macroeconomic structure capable of dealing with conflict over income distribution and power without sacrificing analytical rigor. The model will be applied to different institutional and political contexts to identify the alternative growth models that underlie the post-Fordist trajectories of contemporary capitalist economies. The theoretical apparatus will then be used as a stylized basis for the empirical analysis. Project duration: October 2019 to September 2021.
 

 
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