Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/287691 
Year of Publication: 
2021
Citation: 
[Journal:] Review of Evolutionary Political Economy [ISSN:] 2662-6144 [Volume:] 2 [Issue:] 3 [Publisher:] Springer International Publishing [Place:] Cham [Year:] 2021 [Pages:] 493-527
Publisher: 
Springer International Publishing, Cham
Abstract: 
We contribute to the recent debates on demand and growth regimes in modern finance-dominated capitalism linking them to the post-Keynesian research on macroeconomic policy regimes. We examine the demand and growth regimes, as well as the macroeconomic policy regimes for the big four Eurozone countries, France, Germany, Italy and Spain, for the periods 2001–2009 and 2010–2019. First, our approach supports the usefulness of the identification of demand and growth regimes according to growth contributions of the main demand components and financial balances of the macroeconomic sectors. This allows for an understanding of the demand sources of growth, or stagnation, if there is a lack of demand, of how these sources are financed and of potential financial instabilities and fragilities. Second, when it comes to the macroeconomic policy drivers of demand and growth regimes, as well as their respective changes, we show that the exclusive focus on fiscal policies, as in the previous literature, is too limited and that it is the macroeconomic policy regime which matters here, i.e. the combination of monetary, fiscal and wage policies, as well as the open economy conditions.
Subjects: 
Demand and growth regimes
Macroeconomic policy regimes
Post-Keynesian macroeconomics
JEL: 
E11
E12
E61
E63
E65
O57
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version

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