REVIEW OF KEYNESIAN Co-Editors Thomas Palley, Senior Adviser to the AFL-CIO Matías Vernengo, Professor, Bucknell University, US Esteban Pérez Caldentey, Economic Commission for Latin ISSN Print America and the Caribbean (CEPAL), Chile 2049-5323 ISSN Online Editor Emeritus 2049-5331 Louis-Philippe Rochon, Professor of Economics To place a subscription: and Director of the International Economic Policy Institute, The Subscriptions Dept Laurentian University, Canada Marston Book Services Ltd 160 Eastern Avenue, Milton Park Abingdon OXON OX14 4SB UK The Review of is indexed in Clarivate Analytics Social Sciences Citation Tel: +44 1235 465574 Index and included within the Web of Science Journal Citation Reports. Fax: +44 1235 465556 Email: [email protected]

Aims and scope For more information email: [email protected] The Review of Keynesian Economics (ROKE) is dedicated to the promotion of research in Keynesian economics. Not only does that include Keynesian ideas about macroeconomic theory Follow us! and policy, it also extends to microeconomic and meso-economic analysis and relevant empirical For our latest news, and historical research. The journal provides a forum for developing and disseminating Keynesian views and discounts ideas, and intends to encourage critical exchange with other macroeconomic paradigms. @Elgar_Economics

ROKE is dedicated to the development of Keynesian theory and policy, defined as (1) holding For a free copy of our latest that output and employment are normally constrained by aggregate demand, (2) holding that Economics catalogue, the problematic of aggregate demand shortage exists independently of price, nominal wage, email: [email protected] and nominal interest rate rigidities, and (3) rejecting the claim that the real wage is equal to the marginal disutility of labor. In our view, Keynesian theory should hold a similar place in economics to that held by the theory of evolution in biology.

Many individual still work within the Keynesian paradigm, but intellectual success demands institutional support that can leverage those individual efforts. The journal aims to offer such support by providing a forum for developing and sharing Keynesian ideas. Not only does that include ideas about macroeconomic theory and policy, it also extends to microeconomic and meso-economic analysis and relevant empirical and historical research.

We see a bright future for the Keynesian approach to and invite the economics profession to join us by subscribing to the journal and submitting manuscripts.

The digital content platform for libraries. Allows unlimited user, university wide access.

Includes monographs, research handbooks, encyclopedia, research reviews, journals and much more. Please email [email protected] (UK/RoW) or [email protected] (N/S America) for more information. The Review of Keynesian Economics is available on Elgaronline, providing full search and browse functionality and access to the journal archive. Visit Elgaronline.com for access to selected free articles. www.elgaronline.com/roke Associate Editors Martín Abeles, Economic Commission for Steve Fazzari, Washington University in St Jean-Francois Ponsot, University Pierre Latin America and the Carribean, Argentina Louis, USA Mendès France, Grenoble, France Angel Asensio, Université Paris 13, Sorbonne Jayati Ghosh, Jawaharlal Nehru University, Codrina Rada, Economics Department, Paris Cité, France India University of Utah, US Janine Berg, International Labour Office, Alicia Giron, UNAM, Mexico Sergio Rossi, University of Fribourg, Switzerland Claude Gnos, Université de Bourgogne, Switzerland Robert Blecker, American University, USA Dijon, France Malcolm Sawyer, University of Leeds, UK Hassan Bougrine, Laurentian University, Eckhard Hein, Berlin School of Economics Stephanie Seguino, University of Vermont, Canada and Law, Germany USA Corrado Di Guilmi, University of Technology Marc Lavoie, University of Ottawa, Canada Franklin Serrano, Federal University of Rio Sydney, Australia Maria Cristina Marcuzzo, University of de Janeiro, Brazil Robert Dimand, Brock University, Canada Rome, ‘La Sapienza’, Mark Setterfield, New School for Social Peter Docherty, University of Technology, Gary Mongiovi, St John’s University, USA Research, USA Sydney, Australia Jamee Moudud, Sarah Lawrence College, US Engelbert Stockhammer, Kingston Sebastian Dullien, HTW Berlin - University of Ignacio Perrotini Hernández, Universidad University, UK Applied Sciences, Germany Nacional Autonoma de Mexico, Mexico Jan Toporowski, The School of Oriental and Amitava K. Dutt, University of Notre Dame, Pascal Petit, CEPN Centre d’Economie de African Studies, University of London, UK USA Paris Nord, France Takashi Yagi, Meiji University, Japan Gary Dymski, Leeds University Business Robert Pollin, University of Massachusetts, School, UK Amherst, USA

Editorial Board Yilmaz Akyüz, Switzerland Heiner Flassbeck, Germany Julio López Gallardo, Mexico Robert M. Solow, Nobel José Antonio Ocampo, USA Roberto Frenkel, Argentina Arturo O’Connell, Argentina Laureate in Economics 1987, USA Amit Bhaduri, India Charles A.E. Goodhart, UK Alain Parguez, France Lance Taylor, USA Robert Boyer, France Stephanie Griffith-Jones, USA Jaime Ros, Mexico Anthony P. Thirlwall, UK Luiz Carlos Bresser-Pereira, Brazil Gustav Horn, Germany Bob Rowthorn, UK William Darity Jr, USA Jomo K.S., Malaysia Robert Skidelsky, UK Jane D’Arista, USA John E. King, Australia John Smithin, Canada

Submissions & Subscriptions Published quarterly, ROKE adheres to a double-blind review process. 2020 Prices The editors are looking for research-quality papers on a wide variety Individuals: £134.00/$218.50 (online & print); £88.50/$143.00 (online only) of topics in economics and political-economy. Articles should be Institutions: £379.50/$610.50 (online & print); £331.50/$536.00 (online only) sent by email, and should not be more than 8,000 words, including Single print issue: £65.00/$100.00 references and bibliography. Students: £52.50/$84.00 (online only) Submissions and editorial queries should be sent to Thomas Palley Four issues per year ([email protected]). All submissions should be in Adobe PDF format. Authors should send a title page with abstract and author To place a subscription worldwide: affiliation & contact information, plus an anonymous manuscript The Subscriptions Dept, Marston Book Services without author information or thanks to colleagues. Final accepted 160 Eastern Avenue, Milton Park, Abingdon articles will be delivered in Word. Book reviews should be sent to Oxfordshire OX14 4SB UK Matías Vernengo ([email protected]). Tel: +44 1235 465574 • Fax: +44 1235 465556 Email: [email protected] Full information about submissions or details for authors can be found at www.elgaronline.com/roke.

Abstracting and Indexing Discovery Services Subscription Discounts • Business Source • Ex Libris Primo Central Index 30% discount is available to new subscribers who take out a joint Complete, EBSCO • ProQuest Summon® Service ROKE European Journal of Economics and • Social Sciences Citation subscription to and the • OCLC WorldCat Economic Policies: Intervention (EJEEP). Index, Clarivate Analytics • EBSCO Discovery Service • Scopus • Google Scholar For further information, please email: [email protected]. • EconLit, American • CrossRef Economics Association www.elgaronline.com/roke • RePEc Digital Preservation Services • The Standard Periodical Directory • Portico • CNRS www.e-elgar.com