Empirical Post Keynesian Economics

Richard P.F. Holt is Professor of Economics at Southern Oregon University. He has authored and edited a number of books, book chapters, and journal articles including A New Guide to Post Keynesian Economics (with Steven Pressman) and The Changing Face of Economics: Conversations with Cutting Edge Economists (with David Colander and Barkley Rosser, Jr.). Steven Pressman is Professor of Economics and Finance at Monmouth University in West Long Branch, NJ. He also serves as co-editor of the Review of Political Economy, and as Associate Editor and Book Review Editor of the Eastern Eco[1]nomic Journal. He has published approximately 100 articles in refereed journals and as book chapters, and has authored or edited ten books, including A New Guide to Post Keynesian Economics and 50 Major Economists (2nd ed.).

"This exciting collection of essays is an impressive beginning to the realization of Alfred Eichner's vision of completing the Post Keynesian paradigm by mounting a research program to provide empirical support for its theoretical conclusions and policy recommendations. Unlike the empiricism of the neoclassical mainstream, which considers prediction as the sine qua non of scientific methodology, Post Keynesian empiricism is concerned with explaining and validating critical economic relationships as a basis for public policy. In furthering the 'third stage' of the Post Keynesian paradigm, the essays in this collection will enable heterodox economic thinkers of all persuasions to introduce new leading edge research into the classroom." - Ingrid H. Rima, Temple University"

• 1. Empirical Analysis and Post Keynesian Economics Part I. Empirical Studies of Distribution, Inequality, and Consumption 2. What Can Post Keynesian Economics Teach Us About Poverty? 3. Unemployment, Inequality, and the Policy of Europe: 1984–2000 4. The Racial U-Curve in U.S. Residential Credit Markets in the 1990s: Empirical Evidence from a Post Keynesian World 5. An Analysis of Credit Card Debt Default Part II. Empirical Studies of Business Investment 6. The Dynamics of Innovation and Investment, with Application to Australia, 1984–1998 7. Kalecki’s Investment Theory: A Critical Realist Approach 8. Bubbles or Whirlpools? An Empirical Analysis of the Effects of Speculation and Financial Uncertainty on Investment 9. An Analysis of the Shrinking Supply of Equity and the U.S. Stock Market Boom: Does Supply Matter? Part III. Empirical Studies of International Economic Relations 10. The Effect of Distribution on Accumulation, Capacity Utilization, and Employment: Testing the Profit-led Hypothesis for Turkey 11. Growth Under External Constraints in Brazil: A Post Keynesian Approach