Jan Kregel
Biographic Data
| ID | 1447158 |
|---|---|
| NAME | Jan Kregel |
| GIVEN NAMES | Jan |
| FAMILY NAME | Kregel |
| SIGNATURE | KREGEL J |
| AFFILIATIONS | Levy Economics Institute of Bard College |
| VERIFIED | No |
| TOTAL WORKS | 33 |
| TOTAL CITATIONS | 129 |
| AUTHOR COUNT | 33 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1972 |
| LATEST PUBLICATION YEAR | 2020 |
| H-INDEX | 5 |
External debt matters
Proponents of Modern Monetary Theory frequently use the slogan that a nation State that issues its own currency possesses monetary sovereignty. The problem with this definition is that most countries issue their own currency. There are a few such as Ecuador and El Salvador that use the US dollar, or the members of the Eurozone that use a currency, the Euro, that is not issued by a member State, but these are exceptions. For the rest, sovereignty …
Minsky and International Development Finance
Reflections on the old and new developmentalism
New Developmentalism provides a view out how it incorporates the positive contributions of early development theorists concerned with to the past of development theory as well as a view to the future. This assessment points the similar problems of the importance of exchange rates in the development process to provide a contemporary version of the theory adapted to the twentieth century world of globalization and financialization
What we could have learned from the New Deal in dealing with the recent global recession
Modern policy-makers have learned little from the Great Depression and the policy responses of the 1930s. Yet, there is a great deal to learn from the New Deal: quelling the fear and uncertainty of mass unemployment in the pragmatic, experimental process through which the tool for achieving this objective—directed government expenditure—was accepted, even though the New Deal’s public works policies and direct provision of paid employment, rather …
“Isms” and “Zations”
Financialisation has been represented as a recent phenomenon linked to the deregulation and globalization of the international trade and payments system that has been in progress since the opening of the Chinese economy in the 1980s. It is often represented as the dominance of finance over production or of monetary over real variables. This essay challenges the usefulness of this dichotomy, arguing in the tradition of Keynes, Schumpeter and Minsk…
Emerging markets and the international financial architecture
If emerging markets are to achieve their objective of joining the ranks of industrialized, developed countries, they must use their economic and political influence to support radical change in the international financial system. This working paper recommends John Maynard Keynes's "clearing union" as a blueprint for reform of the international financial architecture that could address emerging market grievances more effectively than current appro…
Structured derivatives contracts, hedging exchange appreciation and financial instability
...
Mobilizing Domestic Resources
Are developing countries supply or demand constrained? The former approach has come to dominate the earlier, Keynesian inspired approach. This paper attempts to resurrect the demand-based theories of the development pioneers of the 1950s, suggesting that employment policy should be an integral part of development policy and that an appropriate mobilization of unemployed labor resources through a government employment guarantee or employer of last…
The global crisis and the implications for developing countries and the BRICs
the global crisis and the implications for developing countries and the bRiCs: is the "b" really justified?Jan KRegel*Developing countries experienced high growth and low inflation in the new Millennium.This has been due in part to the impact of the expansion in developed country financial markets on demand for exports.Especially positive has been the performance of the so-called BRICs -Brazil, Russia, India and China.The collapse of the financia…
Using Minsky's Cushions of Safety to Analyze the Crisis in the U. S. Subprime Mortgage Market
Hyman P. Minsky’s financial fragility hypothesis appears highly relevant in understanding the current crisis in the financial systems of developed countries. His most important contribution to our understanding of the logic of repeated financial crises under capitalism is that of endogenous instability, expressed in terms of a declining ‘margin’ or ‘cushion’ of safety in financial transactions and an increase in financial leverage that he called …
Innovation, competition and financial vulnerability in economic development
The financial sector has been viewed traditionally as either providing the "oil" for the "wheels of commerce" or as a parasite on the real sector of the economy where real productivity gains provide for increasing real wages and per capita incomes. The present paper takes a different route and attempts to an analysis of financial institutions on a par with the production sector of the economy. It also develops a link which amalgamates "the knowle…
Two Views on the Obstacles to Development
Jan Kregel Two Views on the Obstacles to Development I COUNT MYSELF AMONG THE MULTITUDE GIVEN AN INTRODUCTION TO the history of economic thought through Bob Heilbroner’s The Worldly Philosophers. When I first read the book Iwas not sufficiently knowledge able of foreign languages to recognize the distinguishing characteristic for those included in the book was having a unique Weltanschauung. These were not worldlyphilosophers in the sense of hav…
Was there an alternative to the Brazilian crisis
In difference from Asia, high interest rates and stable exchange rates associated with the Real Plan did not produce a corporate debt deflation because of the low corporate indebtedness in Brazil. Instead high interest rates caused both the foreign and fiscal balances to deteriorate, reducing confidence. Any attempt to reduce interest rates brought the threat of currency weakness and the risk of inflation. The crisis was due to the reliance on hi…
Neoclassical Price Theory, Institutions, and the Evolution of Securities Market Organisation
Despite differences in their price theories both Marshall and Walras explicitly patterned their analyses on an existing institution, the stock exchange. Analysis from this point of view notes that the dissimilarity may be explained by the diverse organisation of their respective national stock markets. It also exposes similarity in their treatment of time and information. This analysis is then used to answer the question of whether there is a nat…
Some reflections on technical progress in financing small firms ∗
Starting from a comparison of Josef Steindl's observations on the problems of the financing of small firms, with the implications of the Modigiani – Miller approach to financial structure, this paper investigates relationships between financial leverage and operating leverage by the application of option pricing theory to the value of a firm's debt. Drawing on possible differences between the second-hand break-up value and the present value of th…
The Post-Keynesian Approach to Economics
Journal Article The Post-Keynesian Approach to Economics: An Alternative Analysis of Economic Theory and Policy Foundations of Post-Keynesian Economic Analysis: New Directions in Modern Economics Get access The Post-Keynesian Approach to Economics: An Alternative Analysis of Economic Theory and Policy. By Arestis (Philip). (Aldershot and Brookfield, VT: Edward Elgar, 1992. Pp. xv + 316. £45.00 hardback. ISBN 1 85278 154 8.)Foundations of Post-Key…
A Biographical Dictionary of Dissenting Economists
Journal Article A Biographical Dictionary of Dissenting Economists Get access A Biographical Dictionary of Dissenting Economists. Edited by Philip Arestis and Malcolm Sawyer. (Aldershot: Edward Elgar, 1992. Pp. xiv + 628. £85.00 hardback. ISBN 1 85278 331 1.) J. A. Kregel J. A. Kregel University of Bologna Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 102, Issue 415, 1 November 1992, Pages 1…
Emerging Risk in International Banking. Origins of Financial Vulnerability in the 1980s
Methods of Economic Dynamics
Journal Article Methods of Economic Dynamics Get access Methods of Economic Dynamics. By JOHN HICKS. (Oxford: Clarendon Press, 1985. Pp. vi + 173. à à à à à à à à à à à à à à à à £17.50 hardback.) J. A. Kregel J. A. Kregel The Johns Hopkins University, Bologna Center Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 96, Issue 383, 1 September 1986, Pages 816–818, https://doi.org/10.2307/2232997 …
The International Oil Market
Keynes
Journal Article Keynes: The Instability of Capitalism Get access Keynes: The Instability of Capitalism. By FAUSTO VICARELLI. (Basingstoke and Pennsylvania: Macmillan and University of Pennsylvania Press, 1984. Pp. xvi + 194. £25.00.) J. A. Kregel J. A. Kregel University of Groningen Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 95, Issue 378, 1 June 1985, Pages 506–507, https://doi.org/10.23…
The Economic Imagination. Towards a Behavioural Analysis of Choice
Journal Article The Economic Imagination. Towards a Behavioural Analysis of Choice Get access The Economic Imagination. Towards a Behavioural Analysis of Choice. By PETER EARL. (Brighton: Harvester, 1983. Pp. xi + 206. £14.95 hardback, £5.95 paperback.) J. A. Kregel J. A. Kregel University of Groningen Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 94, Issue 375, 1 September 1984, Pages 675–6…
The World Economy and International Economic Relations
Valeur et Prix. Histoire d'un Debat
Journal Article Valeur et Prix. Histoire d'un Débat. Marx, La Valeur et l'Économie Politique. Les Rapports d'Argent. Théories du Capitalisme: une Introduction Get access Valeur et Prix. Histoire d'un Débat. By Gilles Dostaler. (Montreal: Les Presses de l'Universite du Quebec, 1978. Pp. 180.)Marx, La Valeur et l'Économie Politique. By Gilles Dostaler. (Paris: Editions M8 Anthropos, 1978. Pp. 198.)Les Rapports d'Argent. By SUZANNE DE BRUNHOFF. (Gre…
Economic Dynamics and the Theory of Steady Growth
Research Article| March 01 1980 Economic Dynamics and the Theory of Steady Growth: An Historical Essay on Harrod's ‘Knife-edge' J. A. Kregel J. A. Kregel Search for other works by this author on: This Site Google History of Political Economy (1980) 12 (1): 97–123. https://doi.org/10.1215/00182702-12-1-97 Cite Icon Cite Share Icon Share Facebook Twitter LinkedIn MailTo Permissions Search Site Citation J. A. Kregel; Economic Dynamics and the Theory…
Economic Methodology in the Face of Uncertainty
Journal Article Economic Methodology in the Face of Uncertainty: The Modelling Methods of Keynes and the Post-Keynesians Get access J. A. Kregel J. A. Kregel University of Southampton Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 86, Issue 342, 1 June 1976, Pages 209–225, https://doi.org/10.2307/2230743 Published: 01 June 1976
The Reconstruction of Political Economy
Economic Dynamics and the Theory of Steady Growth
Research Article| March 01 1980 Economic Dynamics and the Theory of Steady Growth: An Historical Essay on Harrod's ‘Knife-edge' J. A. Kregel J. A. Kregel Search for other works by this author on: This Site Google History of Political Economy (1980) 12 (1): 97–123. https://doi.org/10.1215/00182702-12-1-97 Cite Icon Cite Share Icon Share Facebook Twitter LinkedIn MailTo Permissions Search Site Citation J. A. Kregel; Economic Dynamics and the Theory…
The Post-Keynesian Approach to Economics
Journal Article The Post-Keynesian Approach to Economics: An Alternative Analysis of Economic Theory and Policy Foundations of Post-Keynesian Economic Analysis: New Directions in Modern Economics Get access The Post-Keynesian Approach to Economics: An Alternative Analysis of Economic Theory and Policy. By Arestis (Philip). (Aldershot and Brookfield, VT: Edward Elgar, 1992. Pp. xv + 316. £45.00 hardback. ISBN 1 85278 154 8.)Foundations of Post-Key…
The Economic Imagination. Towards a Behavioural Analysis of Choice
Journal Article The Economic Imagination. Towards a Behavioural Analysis of Choice Get access The Economic Imagination. Towards a Behavioural Analysis of Choice. By PETER EARL. (Brighton: Harvester, 1983. Pp. xi + 206. £14.95 hardback, £5.95 paperback.) J. A. Kregel J. A. Kregel University of Groningen Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 94, Issue 375, 1 September 1984, Pages 675–6…
The economic surplus and neo-Marxism
A Biographical Dictionary of Dissenting Economists
Journal Article A Biographical Dictionary of Dissenting Economists Get access A Biographical Dictionary of Dissenting Economists. Edited by Philip Arestis and Malcolm Sawyer. (Aldershot: Edward Elgar, 1992. Pp. xiv + 628. £85.00 hardback. ISBN 1 85278 331 1.) J. A. Kregel J. A. Kregel University of Bologna Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 102, Issue 415, 1 November 1992, Pages 1…
Innovation, competition and financial vulnerability in economic development
The financial sector has been viewed traditionally as either providing the "oil" for the "wheels of commerce" or as a parasite on the real sector of the economy where real productivity gains provide for increasing real wages and per capita incomes. The present paper takes a different route and attempts to an analysis of financial institutions on a par with the production sector of the economy. It also develops a link which amalgamates "the knowle…
Was there an alternative to the Brazilian crisis
In difference from Asia, high interest rates and stable exchange rates associated with the Real Plan did not produce a corporate debt deflation because of the low corporate indebtedness in Brazil. Instead high interest rates caused both the foreign and fiscal balances to deteriorate, reducing confidence. Any attempt to reduce interest rates brought the threat of currency weakness and the risk of inflation. The crisis was due to the reliance on hi…
Using Minsky's Cushions of Safety to Analyze the Crisis in the U. S. Subprime Mortgage Market
Hyman P. Minsky’s financial fragility hypothesis appears highly relevant in understanding the current crisis in the financial systems of developed countries. His most important contribution to our understanding of the logic of repeated financial crises under capitalism is that of endogenous instability, expressed in terms of a declining ‘margin’ or ‘cushion’ of safety in financial transactions and an increase in financial leverage that he called …
Neoclassical Price Theory, Institutions, and the Evolution of Securities Market Organisation
Despite differences in their price theories both Marshall and Walras explicitly patterned their analyses on an existing institution, the stock exchange. Analysis from this point of view notes that the dissimilarity may be explained by the diverse organisation of their respective national stock markets. It also exposes similarity in their treatment of time and information. This analysis is then used to answer the question of whether there is a nat…
Mobilizing Domestic Resources
Are developing countries supply or demand constrained? The former approach has come to dominate the earlier, Keynesian inspired approach. This paper attempts to resurrect the demand-based theories of the development pioneers of the 1950s, suggesting that employment policy should be an integral part of development policy and that an appropriate mobilization of unemployed labor resources through a government employment guarantee or employer of last…
The global crisis and the implications for developing countries and the BRICs
the global crisis and the implications for developing countries and the bRiCs: is the "b" really justified?Jan KRegel*Developing countries experienced high growth and low inflation in the new Millennium.This has been due in part to the impact of the expansion in developed country financial markets on demand for exports.Especially positive has been the performance of the so-called BRICs -Brazil, Russia, India and China.The collapse of the financia…
Two Views on the Obstacles to Development
Jan Kregel Two Views on the Obstacles to Development I COUNT MYSELF AMONG THE MULTITUDE GIVEN AN INTRODUCTION TO the history of economic thought through Bob Heilbroner’s The Worldly Philosophers. When I first read the book Iwas not sufficiently knowledge able of foreign languages to recognize the distinguishing characteristic for those included in the book was having a unique Weltanschauung. These were not worldlyphilosophers in the sense of hav…
Keynes
Journal Article Keynes: The Instability of Capitalism Get access Keynes: The Instability of Capitalism. By FAUSTO VICARELLI. (Basingstoke and Pennsylvania: Macmillan and University of Pennsylvania Press, 1984. Pp. xvi + 194. £25.00.) J. A. Kregel J. A. Kregel University of Groningen Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 95, Issue 378, 1 June 1985, Pages 506–507, https://doi.org/10.23…
Rate of Profit, Distribution and Growth
Journal Article Kregel (J. A.). Rate of Profit, Distribution and Growth: Two Views Get access Rate of Profit, Distribution and Growth: Two Views. By J. A. Kregel. (London: Macmillan, 1971. Pp. xi + 222. £3.50.) T. K. Rymes T. K. Rymes Carleton University, Ottawa Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 82, Issue 326, 1 June 1972, Pages 763–764, https://doi.org/10.2307/2230039 Published:…
Rate of Profit, Distribution and Growth
Journal Article Kregel (J. A.). Rate of Profit, Distribution and Growth: Two Views Get access Rate of Profit, Distribution and Growth: Two Views. By J. A. Kregel. (London: Macmillan, 1971. Pp. xi + 222. £3.50.) T. K. Rymes T. K. Rymes Carleton University, Ottawa Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 82, Issue 326, 1 June 1972, Pages 763–764, https://doi.org/10.2307/2230039 Published:…
The Reconstruction of Political Economy
Economic Dynamics
Journal Article Economic Dynamics Get access Economic Dynamics. By Roy Harrod. (London: Macmillan, 1973. Pp. vii + 195. £2.95.) J. A. Kregel J. A. Kregel University of Southampton Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 83, Issue 331, 1 September 1973, Pages 905–907, https://doi.org/10.2307/2230686 Published: 01 September 1973
The economic surplus and neo-Marxism
Growth and Distribution
The paper contributes to the literature on the relation between structural changes in demand and supply and growth. We develop a macro–economic model with agent–based micro–foundations that articulates the links between production and organisational struc-tures on the supply side, and the endogenous evolution of income distribution on the demand side. The model contains a simplified, though robust, representation of individual firms in the final …
The Reconstruction of Political Economy
Economic Methodology in the Face of Uncertainty
Journal Article Economic Methodology in the Face of Uncertainty: The Modelling Methods of Keynes and the Post-Keynesians Get access J. A. Kregel J. A. Kregel University of Southampton Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 86, Issue 342, 1 June 1976, Pages 209–225, https://doi.org/10.2307/2230743 Published: 01 June 1976
The relation of distribution to growth
Valeur et Prix. Histoire d'un Debat
Journal Article Valeur et Prix. Histoire d'un Débat. Marx, La Valeur et l'Économie Politique. Les Rapports d'Argent. Théories du Capitalisme: une Introduction Get access Valeur et Prix. Histoire d'un Débat. By Gilles Dostaler. (Montreal: Les Presses de l'Universite du Quebec, 1978. Pp. 180.)Marx, La Valeur et l'Économie Politique. By Gilles Dostaler. (Paris: Editions M8 Anthropos, 1978. Pp. 198.)Les Rapports d'Argent. By SUZANNE DE BRUNHOFF. (Gre…
Economic Dynamics and the Theory of Steady Growth
Research Article| March 01 1980 Economic Dynamics and the Theory of Steady Growth: An Historical Essay on Harrod's ‘Knife-edge' J. A. Kregel J. A. Kregel Search for other works by this author on: This Site Google History of Political Economy (1980) 12 (1): 97–123. https://doi.org/10.1215/00182702-12-1-97 Cite Icon Cite Share Icon Share Facebook Twitter LinkedIn MailTo Permissions Search Site Citation J. A. Kregel; Economic Dynamics and the Theory…
The World Economy and International Economic Relations
The Economic Imagination. Towards a Behavioural Analysis of Choice
Journal Article The Economic Imagination. Towards a Behavioural Analysis of Choice Get access The Economic Imagination. Towards a Behavioural Analysis of Choice. By PETER EARL. (Brighton: Harvester, 1983. Pp. xi + 206. £14.95 hardback, £5.95 paperback.) J. A. Kregel J. A. Kregel University of Groningen Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 94, Issue 375, 1 September 1984, Pages 675–6…
The International Oil Market
Keynes
Journal Article Keynes: The Instability of Capitalism Get access Keynes: The Instability of Capitalism. By FAUSTO VICARELLI. (Basingstoke and Pennsylvania: Macmillan and University of Pennsylvania Press, 1984. Pp. xvi + 194. £25.00.) J. A. Kregel J. A. Kregel University of Groningen Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 95, Issue 378, 1 June 1985, Pages 506–507, https://doi.org/10.23…
Methods of Economic Dynamics
Journal Article Methods of Economic Dynamics Get access Methods of Economic Dynamics. By JOHN HICKS. (Oxford: Clarendon Press, 1985. Pp. vi + 173. à à à à à à à à à à à à à à à à £17.50 hardback.) J. A. Kregel J. A. Kregel The Johns Hopkins University, Bologna Center Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 96, Issue 383, 1 September 1986, Pages 816–818, https://doi.org/10.2307/2232997 …
Emerging Risk in International Banking. Origins of Financial Vulnerability in the 1980s
A Biographical Dictionary of Dissenting Economists
Journal Article A Biographical Dictionary of Dissenting Economists Get access A Biographical Dictionary of Dissenting Economists. Edited by Philip Arestis and Malcolm Sawyer. (Aldershot: Edward Elgar, 1992. Pp. xiv + 628. £85.00 hardback. ISBN 1 85278 331 1.) J. A. Kregel J. A. Kregel University of Bologna Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 102, Issue 415, 1 November 1992, Pages 1…
The Post-Keynesian Approach to Economics
Journal Article The Post-Keynesian Approach to Economics: An Alternative Analysis of Economic Theory and Policy Foundations of Post-Keynesian Economic Analysis: New Directions in Modern Economics Get access The Post-Keynesian Approach to Economics: An Alternative Analysis of Economic Theory and Policy. By Arestis (Philip). (Aldershot and Brookfield, VT: Edward Elgar, 1992. Pp. xv + 316. £45.00 hardback. ISBN 1 85278 154 8.)Foundations of Post-Key…
Some reflections on technical progress in financing small firms ∗
Starting from a comparison of Josef Steindl's observations on the problems of the financing of small firms, with the implications of the Modigiani – Miller approach to financial structure, this paper investigates relationships between financial leverage and operating leverage by the application of option pricing theory to the value of a firm's debt. Drawing on possible differences between the second-hand break-up value and the present value of th…
Neoclassical Price Theory, Institutions, and the Evolution of Securities Market Organisation
Despite differences in their price theories both Marshall and Walras explicitly patterned their analyses on an existing institution, the stock exchange. Analysis from this point of view notes that the dissimilarity may be explained by the diverse organisation of their respective national stock markets. It also exposes similarity in their treatment of time and information. This analysis is then used to answer the question of whether there is a nat…
Was there an alternative to the Brazilian crisis
In difference from Asia, high interest rates and stable exchange rates associated with the Real Plan did not produce a corporate debt deflation because of the low corporate indebtedness in Brazil. Instead high interest rates caused both the foreign and fiscal balances to deteriorate, reducing confidence. Any attempt to reduce interest rates brought the threat of currency weakness and the risk of inflation. The crisis was due to the reliance on hi…
Two Views on the Obstacles to Development
Jan Kregel Two Views on the Obstacles to Development I COUNT MYSELF AMONG THE MULTITUDE GIVEN AN INTRODUCTION TO the history of economic thought through Bob Heilbroner’s The Worldly Philosophers. When I first read the book Iwas not sufficiently knowledge able of foreign languages to recognize the distinguishing characteristic for those included in the book was having a unique Weltanschauung. These were not worldlyphilosophers in the sense of hav…
Innovation, competition and financial vulnerability in economic development
The financial sector has been viewed traditionally as either providing the "oil" for the "wheels of commerce" or as a parasite on the real sector of the economy where real productivity gains provide for increasing real wages and per capita incomes. The present paper takes a different route and attempts to an analysis of financial institutions on a par with the production sector of the economy. It also develops a link which amalgamates "the knowle…
Using Minsky's Cushions of Safety to Analyze the Crisis in the U. S. Subprime Mortgage Market
Hyman P. Minsky’s financial fragility hypothesis appears highly relevant in understanding the current crisis in the financial systems of developed countries. His most important contribution to our understanding of the logic of repeated financial crises under capitalism is that of endogenous instability, expressed in terms of a declining ‘margin’ or ‘cushion’ of safety in financial transactions and an increase in financial leverage that he called …
Mobilizing Domestic Resources
Are developing countries supply or demand constrained? The former approach has come to dominate the earlier, Keynesian inspired approach. This paper attempts to resurrect the demand-based theories of the development pioneers of the 1950s, suggesting that employment policy should be an integral part of development policy and that an appropriate mobilization of unemployed labor resources through a government employment guarantee or employer of last…
Economics (28 works) · Economic Theory and Policy (19 works) · Political science (14 works) · Economic Theory and Institutions (10 works) · Law (10 works) · Finance (9 works) · Sociology (9 works) · Business (7 works) · Political Economy and Marxism (7 works) · Politics (7 works)