Research Network and Macroeconomic Policies

Summer School ‚Keynesian Macroeconomics and European Economic Policies’

27 July – 3 August 2008, Berlin

Post-Keynesian is a thriving economic approach which highlights issues of effective demand, income distribution, employment and growth in a monetary production economy. Most of the features of a monetary production economy are usually neglected in mainstream eco- nomics and its “free market”-orientation. During the recent decades, economic policies based on this mainstream approach have contributed to high , worsening income distribu- tion and increasing economic imbalances. Developing alternative policy proposals will therefore need a firm theoretical foundation. The summer school aims at providing an introduction to Post- and to the problems of European economic policies as well as present- ing some ongoing research to interested graduate students (MA and PhD) and junior researchers.

The summer school will consist of overview lectures, student study groups and academic papers. It will feature leading international researchers in the area, like Marc Lavoie (Canada), Amitava Dutt, James Crotty, David Howell (all USA), and Philip Arestis (UK). Issues of monetary eco- nomics, the theory of growth and distribution, and the relation of Post-Keynesian Economics to other heterodox traditions, but also to the now prevalent New Keynesian approach, will be cov- ered as well as applications of Keynesian theory to issues of unemployment, and macroeconomic policy coordination in the EU.

Language: English

Costs: There is a fee of € 250,- for each participant for accommodation and meals. Travelling costs cannot be covered.

Application: Send a letter of motivation (max. 2 pages), your CV and the address of one aca- demic adviser who may be contacted for reference to [email protected] no later than 31 March, 2008. Accepted participants will be informed by the end of April 2008 and will be provided with a reading package for the Summer School.

For detailed information and updates on the summer school see: http://www.boeckler.de/cps/rde/xchg/hbs/hs.xsl/33_89470.html

For more information contact the local organisers: Eckhard Hein, Macroeconomic Policy Institute (IMK), Hans Boeckler Foundation ([email protected]) Torsten Niechoj, Macroeconomic Policy Institute (IMK), Hans Boeckler Foundation ([email protected]) and Engelbert Stockhammer, Vienna University of Economics and Business Administration ([email protected])

For more information on the Research Network Macroeconomic Policies see: http://www.boeckler.de/cps/rde/xchg/hbs/hs.xsl/36176_36330.html Programme of the Summer School

Sunday, 27 July 2008 Monday, 28 July 2008 Tuesday, 29 July 2008 Wednesday, 30 July 2008 Thursday, 31 July 2008 Friday, 1 August 2008 Saturday, 2 August 2008 Money, Credit and Growth and Income Marx, Keynes and Do Labor Market Rigidi- Keynesian Economics Economic Theory and 9.30– Finance Distribution Schumpeter and Global ties Explain the Post- - and the New Keynesian/ Macroeconomic Policies 12.30 Marc Lavoie, University Amitava Dutt, University Neoliberal Capitalism 1970s Pattern of OECD New Consensus Schools in the EMU James Crotty, University Unenmployment? of Thought Philip Arestis, University 12–14.30 of Ottawa of Notre Dame Check in of Massachusetts at Am- David Howell, New Philip Arestis, University of Cambridge herst School University, New of Cambridge York

Lunch Lunch Lunch Lunch Lunch Lunch 13–14

Study group on Money, Study group on Distribution Study group on Keynesian, Study group on Labour Study group on Post- Study group on Economic 14– Credit and Finance and Growth Classical and Marxian Eco- Market, Macroeconomic Keynesian Macroeconomics Problems and Macroeco- 16.30 nomics: A Coherent Post- Policies and Unemployment and its New Keynesian/New nomic Policy Coordination 15–19.00 Introduction: History Keynesian Research Pro- Consensus Cousins in the Enlarging EU and Method of Post- gramme? Keynesian Macroeco- nomics Marc Lavoie: A Simple Amitava Dutt: Conspicuous James Crotty: What Does the David Howell: Individual Eckhard Hein, Engelbert Philip Arestis: Assessing UK 17– Marc Lavoie, Univer- Stock-flow Consistent Consumption, Growth and Recent Tell Incentives and Aggregate Stockhammer: Macroeco- Monetary Policy, Part I & II 19.00 sity of Ottawa Model With Portfolio Distribution Us About the Strengths and Employment Performance: nomic Policy Mix, Employ- Hansjörg Herr: Wages and Choice and a Government Marc Lavoie: Cadrisme Weakness of Competing Unemployment Generosity ment and in a Post- Economic Coherence in the Sector. Within a Post-Keynesian Theories of Financial Mar- and the Unemployment Rate Keynesian Alternative to the Enlarging EU Peter Spahn: New Keynesian Model of Growth and Dis- kets? Özlem Onaran: Globaliza- New Consensus Model Macroeconomics and Mone- tribution Trevor Evans: Marxian and tion and Labour in the Sebastian Dullien: The New tary Targeting Engelbert Stockhammer: On Post-Keynesian Theories of North, East and South. Consensus from a Post- the Empirics of Distribution Finance and the Business A Political Economy Ap- Keynesian Perspective: Pro- and Growth Cycle proach gress by the Mainstream or a Trojan Horse for New Clas- sical Economics?

Dinner Dinner Dinner Dinner Dinner Dinner Dinner 19–20

Wages in Open Economies 20– – The European Disaster 22.00 Heiner Flassbeck, UNCTAD

Lecture, study group, academic papers, after dinner lecture Departure: Sunday