New paper on the empirical evidence of the relevance of the supermultiplier for explaining economic cycles by Ricardo Summa, Gabriel Petrini, and Lucas Teixeira. From the abstract:The demand-led supermultiplier growth model proposes that business investment is induced by income while autonomous expenditures determine economic growth. The most known versions of the model are presented at high levels of abstraction, focusing on general analytical properties and dynamic stability conditions....

Barkley Rosser's professional contributions include the study of complex dynamics in economic models, development and transition economics, observations on the sociology of economists, and editorship. I knew him through Internet discussions and his editing of one of my articles. Peter Dorman has an obituary. Rosser's major book on complexity economics went through two editions. I am not sure I ever made it totally through his book. I think of him as building on, in the Post-Keynesian...

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I am hopping around a bit in this commentary. Fair warning. These are different versions taken from various authorities, different periods of time, and saying similar or the same thing. I am going to try to connect the dots here between some old and some more recent occurrences. Costs and prices keep rising in healthcare and are outstripping out ability to pay. Healthcare costs and the resulting prices keep rising and yes even in the...

Jobless claims start out 2023 where they left off in 2022 – as positive  – by New Deal democrat It took a little while for FRED to post this data today, but with that reason for a delay . . .  Initial jobless claims started off 2023 where they left off in 2022, with another good print. Initial claims declined -1,000 to 205,000, while the more important 4 week average declined -1,750 to 212,500. Continuing claims also declined, down -63,000...

Video and transcript.Economists Radhika Desai and Michael Hudson introduce their show Geopolitical Economy Hour discussing the rise of the multipolar world and decline of US hegemony.Geopolitical EconomyGeopolitical Economy Hour Economists Radhika Desai & Michael Hudson explain multipolarity, decline of US hegemony

She's gone full monetarist zombie.

You know the drill.It was just explained in a previous post here.The LensWhat Every American Needs to Know About the Congressional "Pay-For" Game (Part 2)Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders

More handwringing over "losses." Well, one party's loss is another party's gain.They still don't get that QE involves fiscal withdrawals comparable to taxes by transferring interest payments to government while the raising rate involves a fiscal injection comparable to deficit spending by increasing interest payments to nongovernment. That is, the former decreases aggregate net financial assets of non-government (reduces nongovernment net savings in aggregate) while the latter increases...

We are going to do a new 3 Minute Macro “Ask Me Anything” edition. It should be out next week or so. Please use the comments below to ask me anything and if you ask a really, really good question I’ll include it in the video. Each question will include up to a 3 minute response so anything is fair game. You can also email me here if you prefer that they be privately submitted.