Tag Archives: Cesaratto

 Pubblichiamo presentazione iniziativa di sabato 9 uscita su il manifesto a firma Cesaratto, Fassina, Paggi, Prospero e Stirati. Il testo è un evidente compromesso. Sabato anticipo il mio intervento.Un confronto sabato 9 settembre a Roma"Non v’è dubbio che la sinistra, ovunque, non solo in Italia, viva l’esaurimento di un lungo ciclo storico.Il drammatico arretramento delle esperienze nate dal movimento operaio non può essere disgiunto dalla fine del socialismo reale e il conseguente...

By Sergio Cesaratto (Guest Blogger)In this short note I will not add anything of substantial to the debate with Marc Lavoie on the nature of the Eurozone (EZ) crisis in view of Target 2 (T2). Readers have numerous papers to look at (including Lavoie 2015a/b, Cesaratto 2013, 2015a/b) and posts (Vernengo 2015, Ramanan, 2015). However, although most of relevance has already been said, there is perhaps still some space for few qualifications.1. Subject of the dispute is on whether the EZ crisis...

Jean François Ponsot, Jonathan Marie and @NakedKeynesI'm in France for a talk at the Université de Paris XIII, invited by Jonathan Marie and Dany Lang. The Greek crisis looms large in everybody's minds. I gave a talk based on two papers, one published here, and the other (specifically on the Spanish crisis) just finished, which will soon come as a working paper. But I discussed to a great extent the debate between Sergio Cesaratto and Marc Lavoie on the nature of the European crisis, that is,...

I wrote a while ago about currency crises (see here). There I suggested that classical-Keynesian or post-Keynesian views on currency crises invert the causality between fiscal and balance of payments problems in a currency crisis. Currency crises are not caused by excessive fiscal spending financed by monetary emissions, which would lead to inflation, and eventually after a run on the currency and depletion of reserves to a devaluation, but on current account problems.There two key problems...