Maria Cristina Marcuzzo | Università degli Studi "La Sapienza" di Roma (original) (raw)
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Papers by Maria Cristina Marcuzzo
Palgrave Macmillan UK eBooks, 1990
Ciclos en la historia, la economía y la sociedad, Dec 28, 2013
History of Economic Ideas, 2002
The demise of the Quantity Theory of Money took Keynes a long way from his previously held view. ... more The demise of the Quantity Theory of Money took Keynes a long way from his previously held view. It was not until after the Summer of 1934 that his ideas took on a form different from those presented in the Treatise. Finally, he was able to provide an alternative approach to price level determination based on aggregate demand and aggregate supply. In the process which led to the new formulation, Kahn’s construction of the aggregate supply curve, drawn in the expected proceeds-aggregate output space, was an important step, because it allowed for a straightforward derivation of the ‘level of prices’ as the ratio of expected proceeds to output. The generalized statement of the Quantity Theory presented in chapter 21 of the General Theory shows that an increase in prices – as a consequence of an increase in the stock of money – occurs in very special conditions. On the contrary, the Aggregate Demand and Aggregate Supply models which became popular in the 1990s misrepresent the point against the Quantity Theory and thus facilitate its reinstatement as a general proposition.
RePEc: Research Papers in Economics, 2012
Introduction Part 1: Individuals 1. Cambridge as a Place in Economics with Nerio Naldi, Annalisa ... more Introduction Part 1: Individuals 1. Cambridge as a Place in Economics with Nerio Naldi, Annalisa Rosselli and Eleonora Sanfilippo 2. Keynes and Cambridge 3. Piero Sraffa at the University of Cambridge 4. The 'Elusive Figure Who Hides in the Preface of Cambridge Books': An Appraisal of Richard Kahn's Contributions 5. Joan Robinson and the Three Cambridge Revolutions 6. R.F. Kahn and Imperfect Competition Part 2: Collaboration 7. The Collaboration between J.M. Keynes and R.F. Kahn from the Treatise to the General Theory 8. Joan Robinson and Richard Kahn: The Origin of Short-Period Analysis 9. Robinson and Sraffa 10. Sraffa and Cambridge Economics, 1928-1931 Part 3: Approach 11. From Market 'Imperfections' to Market 'Failures': Some Cambridge Challenges to Laissez-Faire 12. Alternative Microeconomic Foundations for Macroeconomics: The Controversy over the L-shaped Cost Curve Revisited 13. Short-Period Economics in Retrospect 14. The 'First' Imperfect Competition Revolution 15. Profit Maximization in the Cambridge Tradition of Economics with Eleonora Sanfilippo
... Fabio Ranchetti is Professor of Economics at the University of Pisa, Italy. ... us in our res... more ... Fabio Ranchetti is Professor of Economics at the University of Pisa, Italy. ... us in our research: Katia Caldari, Alessandra Caretta, Claudia Cicconi, Maureen Donegan, Maria Teresa Duda, Christian Galassi, Monica Gentile, Martina Mosco, Cristina Saggioro, Iolanda Sanfilippo ...
Part 1 Ricardo's writings: gold, the exchnge rate and the quantity of money the "Essay&q... more Part 1 Ricardo's writings: gold, the exchnge rate and the quantity of money the "Essay" and the "Proposals" value and distribution in Parliament. Part 2 Credit and currency: the English financial revolution the banking system currency circulation. Part 3 The value of money: the measure of the value of money the invariable measure of value absolute value and relative value of gold. Part 4 The quantity of money: alternative approaches cost of production and equilibrium quantity of gold the adjustment mechanisms of the quantity of money price stability under the Gold Standard. Part 5 Trade and international finance: mercantile houses and merchant banks the bill of exchange subsidies loans. Part 6 The gold market: international payments the London gold market the export and import of gold. Part 7 The Foreign Exchange market: the price of gold the rate of exchange the exchange rate between London and Hamburg. Part 8 The theory of the Gold Standard: the "Redundancy of Currency" stable and unstable monetary regimes stopping rule for gold movements Ricardo's method. part 9 Ricardo and his time: gold as a commodity the theory of unilateral transfer market and money.
History of Economic Ideas, 2011
序 リターン・トゥ・ケインズ 第１部 ケインズ的経済政策—過去・現在・将来（ケインズがアメリカに戻ってきた；日本の長期不況と経済政策；ヨーロッパにおけるマクロ経済政策—積極的安定化政策路線への回... more 序 リターン・トゥ・ケインズ 第１部 ケインズ的経済政策—過去・現在・将来（ケインズがアメリカに戻ってきた；日本の長期不況と経済政策；ヨーロッパにおけるマクロ経済政策—積極的安定化政策路線への回帰か） 第２部 ケインズ理論とケインズ主義を解釈する（ケインジアン‐新古典派総合の「旧」から「新」へ—一つの解釈；トービンのケインズ主義；新しい新古典派総合とヴィクセル−ケインズ・コネクション） 第３部 ケインズ再読と解釈（難解で数学的な議論—『一般理論』における数学的推論の利用；『一般理論』—確率的マクロ均衡概念に向かって；ケインズの経済学の形成過程；ケインズとスラッファ、そして後者の「隠された懐疑」；ケインズと言葉の戦争） 第４部 グローバル危機—ケインズからの教訓（ケインズと現代国際金融論；現代経済学に対するケインズの影響—ケインズのファイナンス理論および経済政策をめぐる若干の見過ごされた貢献；現代のグローバル・インバランス—ケインズは貢献し得るか？）
The Indian Economic Journal, 2021
In this article, I discuss the approach favoured by Bharadwaj, in the tradition of classical poli... more In this article, I discuss the approach favoured by Bharadwaj, in the tradition of classical political economy and of Sraffa, where the focus is on those factors that are observed as opposed to the subjective factors that are neither observable nor measurable. Unlike neoclassical theory, with this approach, there is no room for concepts such as ‘utility’ and the like; insofar as ‘expectations’ are conceived as subjective, non-observable entities, they are not attributed with an explanatory role in the theory of prices and distribution. Moreover, since expectation formation is seen as the effect rather than cause of behaviour, the focus shifts to those social, historical and contingent elements that seem to have a better explanatory force. In this approach, what matters is the persistence of forces leading the system to tend, in the long period, towards a position of rest. JEL Codes: B2, B31
Introduction Part I Europe in crisis: the case of Italy, Spain and Germany 1. The economic conseq... more Introduction Part I Europe in crisis: the case of Italy, Spain and Germany 1. The economic consequences of the Maastricht Treaty: why Italy's permanent crisis is a warning to the Eurozone 2. Recovery or stagnation? Spain and Italy after the Great Recession 3. The German "reforms" - no model for the EU Part II Integration and disintegration in the European Monetary Union 4. Did monetary union make political uinion less likely? 5. External imbalances and European integration 6. The Italian economy from WWII to the EMU: structural weaknesses and external constraints Part III The social effects of neoliberal macroeconomics 7. Market income inequality and welfare state redistribution in Europe: some facts and policy suggestions 8. Labour market reforms in Europe and young people's labour market integration in turbulent times 9. Prolonged austerity and gender equality: the cases of Greece and UK compared 10. Disseminating expertise on gender and economics: the experience...
Palgrave Macmillan UK eBooks, 1990
Ciclos en la historia, la economía y la sociedad, Dec 28, 2013
History of Economic Ideas, 2002
The demise of the Quantity Theory of Money took Keynes a long way from his previously held view. ... more The demise of the Quantity Theory of Money took Keynes a long way from his previously held view. It was not until after the Summer of 1934 that his ideas took on a form different from those presented in the Treatise. Finally, he was able to provide an alternative approach to price level determination based on aggregate demand and aggregate supply. In the process which led to the new formulation, Kahn’s construction of the aggregate supply curve, drawn in the expected proceeds-aggregate output space, was an important step, because it allowed for a straightforward derivation of the ‘level of prices’ as the ratio of expected proceeds to output. The generalized statement of the Quantity Theory presented in chapter 21 of the General Theory shows that an increase in prices – as a consequence of an increase in the stock of money – occurs in very special conditions. On the contrary, the Aggregate Demand and Aggregate Supply models which became popular in the 1990s misrepresent the point against the Quantity Theory and thus facilitate its reinstatement as a general proposition.
RePEc: Research Papers in Economics, 2012
Introduction Part 1: Individuals 1. Cambridge as a Place in Economics with Nerio Naldi, Annalisa ... more Introduction Part 1: Individuals 1. Cambridge as a Place in Economics with Nerio Naldi, Annalisa Rosselli and Eleonora Sanfilippo 2. Keynes and Cambridge 3. Piero Sraffa at the University of Cambridge 4. The 'Elusive Figure Who Hides in the Preface of Cambridge Books': An Appraisal of Richard Kahn's Contributions 5. Joan Robinson and the Three Cambridge Revolutions 6. R.F. Kahn and Imperfect Competition Part 2: Collaboration 7. The Collaboration between J.M. Keynes and R.F. Kahn from the Treatise to the General Theory 8. Joan Robinson and Richard Kahn: The Origin of Short-Period Analysis 9. Robinson and Sraffa 10. Sraffa and Cambridge Economics, 1928-1931 Part 3: Approach 11. From Market 'Imperfections' to Market 'Failures': Some Cambridge Challenges to Laissez-Faire 12. Alternative Microeconomic Foundations for Macroeconomics: The Controversy over the L-shaped Cost Curve Revisited 13. Short-Period Economics in Retrospect 14. The 'First' Imperfect Competition Revolution 15. Profit Maximization in the Cambridge Tradition of Economics with Eleonora Sanfilippo
... Fabio Ranchetti is Professor of Economics at the University of Pisa, Italy. ... us in our res... more ... Fabio Ranchetti is Professor of Economics at the University of Pisa, Italy. ... us in our research: Katia Caldari, Alessandra Caretta, Claudia Cicconi, Maureen Donegan, Maria Teresa Duda, Christian Galassi, Monica Gentile, Martina Mosco, Cristina Saggioro, Iolanda Sanfilippo ...
Part 1 Ricardo's writings: gold, the exchnge rate and the quantity of money the "Essay&q... more Part 1 Ricardo's writings: gold, the exchnge rate and the quantity of money the "Essay" and the "Proposals" value and distribution in Parliament. Part 2 Credit and currency: the English financial revolution the banking system currency circulation. Part 3 The value of money: the measure of the value of money the invariable measure of value absolute value and relative value of gold. Part 4 The quantity of money: alternative approaches cost of production and equilibrium quantity of gold the adjustment mechanisms of the quantity of money price stability under the Gold Standard. Part 5 Trade and international finance: mercantile houses and merchant banks the bill of exchange subsidies loans. Part 6 The gold market: international payments the London gold market the export and import of gold. Part 7 The Foreign Exchange market: the price of gold the rate of exchange the exchange rate between London and Hamburg. Part 8 The theory of the Gold Standard: the "Redundancy of Currency" stable and unstable monetary regimes stopping rule for gold movements Ricardo's method. part 9 Ricardo and his time: gold as a commodity the theory of unilateral transfer market and money.
History of Economic Ideas, 2011
序 リターン・トゥ・ケインズ 第１部 ケインズ的経済政策—過去・現在・将来（ケインズがアメリカに戻ってきた；日本の長期不況と経済政策；ヨーロッパにおけるマクロ経済政策—積極的安定化政策路線への回... more 序 リターン・トゥ・ケインズ 第１部 ケインズ的経済政策—過去・現在・将来（ケインズがアメリカに戻ってきた；日本の長期不況と経済政策；ヨーロッパにおけるマクロ経済政策—積極的安定化政策路線への回帰か） 第２部 ケインズ理論とケインズ主義を解釈する（ケインジアン‐新古典派総合の「旧」から「新」へ—一つの解釈；トービンのケインズ主義；新しい新古典派総合とヴィクセル−ケインズ・コネクション） 第３部 ケインズ再読と解釈（難解で数学的な議論—『一般理論』における数学的推論の利用；『一般理論』—確率的マクロ均衡概念に向かって；ケインズの経済学の形成過程；ケインズとスラッファ、そして後者の「隠された懐疑」；ケインズと言葉の戦争） 第４部 グローバル危機—ケインズからの教訓（ケインズと現代国際金融論；現代経済学に対するケインズの影響—ケインズのファイナンス理論および経済政策をめぐる若干の見過ごされた貢献；現代のグローバル・インバランス—ケインズは貢献し得るか？）
The Indian Economic Journal, 2021
In this article, I discuss the approach favoured by Bharadwaj, in the tradition of classical poli... more In this article, I discuss the approach favoured by Bharadwaj, in the tradition of classical political economy and of Sraffa, where the focus is on those factors that are observed as opposed to the subjective factors that are neither observable nor measurable. Unlike neoclassical theory, with this approach, there is no room for concepts such as ‘utility’ and the like; insofar as ‘expectations’ are conceived as subjective, non-observable entities, they are not attributed with an explanatory role in the theory of prices and distribution. Moreover, since expectation formation is seen as the effect rather than cause of behaviour, the focus shifts to those social, historical and contingent elements that seem to have a better explanatory force. In this approach, what matters is the persistence of forces leading the system to tend, in the long period, towards a position of rest. JEL Codes: B2, B31
Introduction Part I Europe in crisis: the case of Italy, Spain and Germany 1. The economic conseq... more Introduction Part I Europe in crisis: the case of Italy, Spain and Germany 1. The economic consequences of the Maastricht Treaty: why Italy's permanent crisis is a warning to the Eurozone 2. Recovery or stagnation? Spain and Italy after the Great Recession 3. The German "reforms" - no model for the EU Part II Integration and disintegration in the European Monetary Union 4. Did monetary union make political uinion less likely? 5. External imbalances and European integration 6. The Italian economy from WWII to the EMU: structural weaknesses and external constraints Part III The social effects of neoliberal macroeconomics 7. Market income inequality and welfare state redistribution in Europe: some facts and policy suggestions 8. Labour market reforms in Europe and young people's labour market integration in turbulent times 9. Prolonged austerity and gender equality: the cases of Greece and UK compared 10. Disseminating expertise on gender and economics: the experience...