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Analytical Political Economy

Roberto Veneziani (Editor), Luca Zamparelli (Editor)

ISBN: 978-1-119-48331-1 April 2018 Wiley-Blackwell 408 Pages



Offering a unique picture of recent developments in a range of non-conventional theoretical approaches in economics, this book introduces readers to the study of Analytical Political Economy and the changes within the subject.

  • Includes a wide range of topics and theoretical approaches that are critically and thoroughly reviewed
  • Contributions within the book are written according to the highest standards of rigor and clarity that characterize academic work
  • Provides comprehensive and well-organized surveys of cutting-edge empirical and theoretical work covering an exceptionally wide range of areas and fields
  • Topics include macroeconomic theories of growth and distribution; agent-based and stock-flow consistent models; financialization and Marxian price and value theory
  • Investigates exploitation theory; trade theory; the role of expectations and ‘animal spirits’ on macroeconomic performance as well as empirical research in Marxian economics

1. Analytical Political Economy 1
Roberto Veneziani and Luca Zamparelli

2. Taking Stock: A Rigorous Modelling of Animal Spirits in Macroeconomics 5
Reiner Franke and Frank Westerhoff

3. The Agent-Based Approach to Post Keynesian Macro-Modeling 39
Corrado Di Guilmi

4. Stock-Flow Consistent Macroeconomic Models: A Survey 63
Michalis Nikiforos and Gennaro Zezza

5. Heterodox Theories of Economic Growth and Income Distribution:A Partial Survey 103
Amitava Krishna Dutt

6. Endogenous Technical Change in Alternative Theories of Growth and Distribution 139
Daniele Tavani and Luca Zamparelli

7. Minsky Models: A Structured Survey 175
Maria Nikolaidi and Engelbert Stockhammer

8. Financialization and Investment: A Survey of the Empirical Literature 207
Leila E. Davis

9. Quantitative Empirical Research in Marxist Political Economy: A Selective Review 237
Deepankar Basu

10. Value, Price, and Exploitation: The Logic of the Transformation Problem 269
Simon Mohun and Roberto Veneziani

11. A Progress Report on Marxian Economic Theory: On the Controversies in Exploitation Theory Since Okishio (1963) 307
Naoki Yoshihara

12. South–South and North–South Economic Exchanges: Does it Matter who is Exchanging What and with Whom? 339
Omar S. Dahi and Firat Demir

Index 381