Analytical Political Economy

Offering a unique picture of recent developments in a range of non-conventional theoretical approaches in economics, this book introduces readers to the study of Analytical Political Economy and the changes within the subject. Includes a wide range of topics and theoretical approaches that are critically and thoroughly reviewed Contributions within the book are written according to the highest standards of rigor and clarity that characterize academic work Provides comprehensive and well-organized surveys of cutting-edge empirical and theoretical work covering an exceptionally wide range of areas and fields Topics include macroeconomic theories of growth and distribution; agent-based and stock-flow consistent models; financialization and Marxian price and value theory Investigates exploitation theory; trade theory; the role of expectations and ‘animal spirits’ on macroeconomic performance as well as empirical research in Marxian economics

1. Analytical Political Economy 1 Roberto Veneziani and Luca Zamparelli 2. Taking Stock: A Rigorous Modelling of Animal Spirits in Macroeconomics 5 Reiner Franke and Frank Westerhoff 3. The Agent-Based Approach to Post Keynesian Macro-Modeling 39 Corrado Di Guilmi 4. Stock-Flow Consistent Macroeconomic Models: A Survey 63 Michalis Nikiforos and Gennaro Zezza 5. Heterodox Theories of Economic Growth and Income Distribution:A Partial Survey 103 Amitava Krishna Dutt 6. Endogenous Technical Change in Alternative Theories of Growth and Distribution 139 Daniele Tavani and Luca Zamparelli 7. Minsky Models: A Structured Survey 175 Maria Nikolaidi and Engelbert Stockhammer 8. Financialization and Investment: A Survey of the Empirical Literature 207 Leila E. Davis 9. Quantitative Empirical Research in Marxist Political Economy: A Selective Review 237 Deepankar Basu 10. Value, Price, and Exploitation: The Logic of the Transformation Problem 269 Simon Mohun and Roberto Veneziani 11. A Progress Report on Marxian Economic Theory: On the Controversies in Exploitation Theory Since Okishio (1963) 307 Naoki Yoshihara 12. South–South and North–South Economic Exchanges: Does it Matter who is Exchanging What and with Whom? 339 Omar S. Dahi and Firat Demir Index 381