Results

Found 3 search results for: Izabela Bludnik

Izabela Bludnik (2019/4, Articles, p. 399)

Endogenous Money Supply under Financialization: Heterodox Economic Perspective

Heterodox economics interprets the phenomena of endogenous money supply and financialization, and the cause-and-effect relationship between them, in a way different than mainstream economics. Endogeneity is perceived here as a durable and constant feature of money, which constitutes at the same time a determinant of financialization. The latter, in turn, is considered as a temporary and (...)

Izabela Bludnik (2014/1, Articles, p. 27)

Economics and Social Engineering from the Perspective of the Crisis

Both New Keynesianism and Post-Keynesianism have been studying for years a problem of credit rationing implying that not all of the private agents’ demand for money is satisfied by the market. Each of them has its original contribution to the explanation of the behavior observed in the financial markets. Simultaneously, however, they are based on different analytical assumptions. New (...)

Izabela Bludnik (2009/6, Articles, p. 761)

Reductionism in new keynesian models

The research program of New Keynesianism as born in early 1970s was dominated by the search for microeconomic explanations of persistent business fluctuations. For this purpose New Keynesians applied reductionism characteristic of the model of perfect competition. Simultaneously, New Keynesian models reveal different systemic imperfections contradictory to the idea of representative agent (...)