Posted by: Dirk | May 11, 2011

Fault lines in the world economy

This weekend I present a joint paper at the 5th ‘Dijon’ Post-Keynesian conference (which, for a change, is hosted at Roskilde University, DK). Our paper deals with the question of how to address a bunch of questions like these:

  • international adjustment in fixed exchange rate regimes
  • transfer problem versus default
  • no room for misallocation of capital by markets (liquidity vs insolvency)
  • ‘consumer of last resort’ vs ‘savings glut’

One of the best books there is on these topics is Raghuram Rajan’s Fault Lines (PUP), which I will review later this month. There is a new video out from INET which I have posted below.

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