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Publications

Selected Recent Publications of Members of the Centre 2019-2015

Papers

2020

Arestis, P. and Zhang, S., “Are there Irrational Bubbles under the High Residential Housing Prices in China’s Major Cities?”, Panoeconomicus, Vol. 67, Issue 1 (March 2020, pp. 1-26)

Arestis, P., “Productivity and Inequality in the UK: A Political Economy Perspective”, Review of Evolutionary Political Economy (REPE), Vol. 1, Issue 2, (August, 2020, pp. 183-197)

Arestis, P. and Ferreiro, J., Gomez, C., “Employment Protection Legislation and Labour Income Shares in Europe”, Panoeconomicus, Vol. 67, Issue 3 (June 2020, pp. 291-308)

Arestis, P. and Ferreiro, J., Gomez, C., “Quality of Employment and Employment Protection. Effects of Employment Protection on Temporary and Permanent Employment”, Structural Change and Economic Dynamics (SCED), Vol. 53© (June 2020, pp. 180-188)

Arestis, P. and Kaya, A. Sen. H., “Linkage between Government Expenditure and Output: Empirics of the Keynesian View Versus Wagner’s Law”, Economic Change and Restructuring, Vol. O (June 2020, pp. 1-39)

Arestis, P. and Peinado, P, Serrano, F., “The Effect of the Great Recession Unemployment on Spain’s Pensioners”, International Review of Economic Policy, Vol. 12, No. 1, pp. 87-102 (ISSN: 2615 7035; July 2020)

Arestis, P. and Jia, M., “Financing Housing and House Prices in China”,                                                           Journal of Financial Economic Policy, Vol. 12, No. 4 (December 2020, pp. 445-461)

Arestis, P. “Financial Stability: Still Unsettled for the Future”, in P. Arestis and M. C. Sawyer (eds.), Economic Policies for a Post-Neoliberal World, Annual Edition of International Papers in Political Economy, (Palgrave Macmillan, 2020)

Arestis, P., “UK and Other Advanced Economies Productivity and Income Inequality”, International Review of Applied Economics (IRAE), (2020, Forthcoming)

Arestis, P. and Corrado, G, Corrado, L, “Shocks, Financial Constraints and Households’ Consumption amid the Great Recession”, Panoeconomicus (Forthcoming, March 2021

Arestis, P. and Ferreiro, J., Gomez, C., “Labour Market Flexibilization and Income Distribution in Europe”, Panoeconomicus (Forthcoming, 2021)

Arestis, P. and Karagiannis, N., Madjid-Sadjadi, Z., "Linking the Developmental State to Green Economic Growth", in N. Karagiannis and J. King (eds.), Visions and Strategies for a Sustainable Economy, (Edward Elgar Publishing Limited, Forthcoming, 2021)

Magacho G.R. and McCombie, J.S.L.  “Structural Change and Cumulative Causation: A Kaldorian Approach”, Metroeconomica,  (2020), vol 7(1), pp. 633-660.

Felipe, J., Bajaro D.F., Estrada, G. and McCombie, J.S.L. (2020), “What do we learn from ‘Does Productivity Growth Threaten Employment?’ by David Autor and Anna Salomons”, PSL Quarterly Review (2020, forthcoming)

 


 

2019

Arestis, P. González-Martínez, A.R., "Economic Precariousness: A New Channel in the Housing Market Cycle" (with), International Journal of Finance and Economics, Vol. 24, No. 2 (April 2019, pp. 1-14)

Arestis, P. and Araujo, E., “Lessons from the 20 Years of the Brazilian Inflation Targeting Regime”, Panoeconomicus, Vol. 66, No.1 (March 2019, pp. 1-23)

Arestis, P., “The Past and Future of the Euro”, Revista de Economia Critica, Vol. 27 (June, 2019, pp. 6-15)

Arestis, P. and Baltar, C.T., “A Model of Economic Growth for an Open Emerging Country: Empirical Evidence for Brazil”, Structural Change and Economic Dynamics (SCED), Vol. 49 (June, 2019, pp. 217-227)

Arestis, P. and Jia, M., “Credit Risk and Macroeconomic Stress Tests in China”, Journal of Banking Regulation, Vol. 20 (August, 2019, pp. 211-225)

Arestis, P. and Phelps, P., "A Panel Analysis of Brazilian Regional Inequality", Environment and Planning A: Economy and Space, Vol. 51, No. 7 (October 2019, pp. 1558-1585)

Arestis, P. Kitromilides, Y.,Brexit’: A Political Economy Approach”, Challenge: The Magazine of Economic Affairs, Vol. 61, Nos. 05/06 (combined) (March-April, 2019, pp. 450-464)

Arestis, P. and  Ferrari-Filho, F. Flavio Resende, M., Bittes Terra, F. and Bittes Terra, V., “The Brazilian Monetary and Fiscal Policies from 2011 and 2017: Conventions and Crisis”, Challenge: The Magazine of Economic Affairs, Vol. 62, No. 3, (June-July, 2019, pp. 187- 199)

Arestis, P. “Critique of the New Consensus Macroeconomics and Propose a More Keynesian Macroeconomic Model”, in P. Arestis and M. C. Sawyer (eds.), Frontiers of Heterodox Macroeconomics, Annual Edition of International Papers in Political Economy, (Palgrave Macmillan, 2019)

McCombie, J.S.L. and Spreafico, M.R.M.  “Why the Subprime Financial Crash Should Have Been Prevented and Implications for Current Macroeconomic and Regulatory Policy” in Arestis, P. and Sawyer, M. (eds), Frontiers of Heterodox Macroeconomics,  (2019), Palgrave Macmillan.

McCombie, J.S.L. "Why Thirlwall's Law is not a Tautology: More on the Debate over the Law." Review of Keynesian Economics, 2019) Vol7(4) pp. 429-443.

 


 

2018

Arestis, P. and Reinado, P. “Explaining, Restoring Low Productivity Growth in the UK”, Challenge: The Magazine of Economic Affairs, Vol. 61, No. 2, (March-April, 2018, pp. 120-132)

Magacho G.R., McCombie, J.S.L. and Guilhoto, J.J.M. (2018). Impacts of Trade Liberalization on Countries’ Sectoral Structure of Production and Trade: A Structural Decomposition Analysis, Structural Change and Economic Dynamics, (forthcoming).

Magacho, G.R. and McCombie, J.S.L. (2018). A Sectoral Explanation of Per Capita Income Convergence and Divergence: Estimating Verdoorn’s Law for Countries at Different Stages of Development. Cambridge Journal of Economics, (forthcoming).

Romero, J.P. and McCombie, J.S.L. (2018). Thirlwall's law and the Specification of Export and Import Functions. Metroeconomica, Vol. 69. No. 2, pp. 366-395.

Arestis P.,  Filho F.F.  and Terra  F.H.B. (2018).  Keynesian Macroeconomic Policy: Theoretical Analysis and Empirical Evidence” Panoeconomicus, Vol. LXV, No. 1, pp. 1-20.

Arestis P. and P. Reinado (2018). Explaining, Restoring Low Productivity Growth in the UK, Challenge: The Magazine of Economic Affairs, pp. 1-13.

Arestis, P. and Phelps, P., "Inequality Implications of EMU Membership: A Reassessment", Environment and Planning A: Economy and Space, Vol. 50, No. 7 (October, 2018, pp. 1443-1472)

McCombie J.S.L and M.R.M. Spreafico (2018). Brexit and its possible implications for the UK economy and its regions: A post‐Keynesian perspective. Papers in Regional Science Vol. 97.1: 133-149.

 


 

2017

Ribeiro, R.S.M, McCombie, J.S.L. and Lima G.T. (2017). Some unpleasant Currency-devaluation Arithmetic in a Post Keynesian Macromodel”, Journal of Post Keynesian Economics, Vol. 40 No. 2, pp. 145-167.

Arestis P., Cunha Resende M.F., Alencar D.A.,  Barbosa L. and G. Diniz (2017). The Finance-Investment and Saving-Funding Circuit in the Closed and Open Economies with Government”, International Review of Applied Economics, Vol. 31, No. 6, pp. 832-845

 Arestis P., and A.R. González-Martinez  (2017).  Importance of Demographics for Housing in the OECD Economies, Bulletin of Economic Research, Vol. 69, No. 1 pp. 1-22

Arestis P.  and  Fábio Henrique Bittes Terra (2017). Monetary Policy in the Post Keynesian Theoretical Framework,  Brazilian Journal of Political Economy Vol. 37, No. 1 146, pp. 45-64.

Arestis P., Fontana G., and P. Phelps (2017). Regional Financialisation and Financial Systems Convergence: Evidence from Italy, Environment and Planning A, Vol. 49, No. 1, pp. 141-167.

Arestis P., and A.R. Gonzalez-Martinez (2017). Housing Market in Israel: Is there a Bubble? Panoeconomicus, Vol. 64, No. 1, pp. 1-16.

 Arestis P., and C. Baltar (2017). Income Distribution and Economic Growth: A Critical Approach, Panoeconomicus, Vol. 64, No. 2, pp. 125-138.

 Arestis P.,  González-Martínez A. R. and D. Lukui Jia (2017) House Price Overvaluation in Hong Kong: Identifying the Market Fundamentals and Understanding the ‘Bubble’ International Journal of Housing Markets and Analysis (IJHMA), Vol. 10, No. 2, pp. 282-304.

Arestis P. and P. Phelps (2017) Financial Market Implications of Monetary Policy Coincidences: Evidence from the UK and Euro Area Government-Bond Markets, Journal of International Financial Markets, Institutions & Money, Vol. 49, No. 2,  pp. 88-102.

McCombie J. S. L., Spreafico, M. R. and S. Xu (2017). Productivity growth of the cities of Jiangsu province, China: a Kaldorian approach. International Review of Applied Economics, pp. 1-22.

Magacho, G. R. and J.S.L McCombie (2017), Verdoorn’s law and productivity dynamics: An empirical investigation into the demand and supply approaches, Journal of Post Keynesian Economics, Vol. 40, No. 4, pp. 600-621 

Ribeiro R. S. M., McCombie, J. S. L. and G. Tadeu Lima (2017). A reconciliation proposal of demand-driven growth models in open economies. Journal of Economic Studies, Vol. 44(2), pp.226-244.

Arestis P.,  Kaya A. and H. Şen (2016). “Does Fiscal Consolidation Promote Economic Growth and Employment? Evidence from the PIIGGS Countries” European Journal of Economics and Economic Policies: Intervention (EJEEP) (November, 2017)

 


2016

Romero J. P., and J.S.L. McCombie (2016). The Multi-Sectoral Thirlwall’s Law: evidence from 14 developed European countries using product-level data. International Review of Applied Economics, Vol. 30(3), pp. 301-325.

Romero J. P., and J.S.L. McCombie,  (2016). Differences in increasing returns between technological sectors: A panel data investigation using the EU KLEMS database. Journal of Economic Studies, Vol. 43(5), pp. 863-878.

Ribeiro R. S., McCombie, J. S. L., and G.T. Lima (2016). Exchange rate, income distribution and technical change in a balance-of-payments constrained growth model. Review of Political Economy, Vol. 28(4), pp. 545-565.

McCombie J.S.L. and M.R.M. Spreafico (2016). Could the Icelandic Banking Collapse of 2008 have been Prevented? The Role of Economists Prior to the Crisis. European Journal of Economics and Economic Policies: Intervention, Vol. 13(3), pp. 323-338.

Arestis P., (2016). Can the Report of the ‘Five Presidents’ Save the Euro?, European Journal of Economics and Economic Policies: Intervention, Vol. 13, No. 1, pp. 28-38.

Arestis P., and  A.R. González-Martinez(2016). Income Inequality: Implications and Relevant Economic Policies, Panoeconomicus, Vol. 63, No. 1, pp. 1-24.

Arestis P., and P Phelps (2016). Endogeneity Analysis of Output Synchronization in the Current and Prospective EMU, Journal of Common Market Studies, Vol. 54, No. 3 pp. 525-543.

Arestis P. and C.T. Baltar (2016). Brazilian Economic Performance since the Emergence of the Great Recession: the Effects of Income Distribution on Consumption.  Panoeconomicus, Vol. 63, No. 2, pp. 157-174.

Arestis P. and A.R. González-Martinez  (2016). Revisiting the Accelerator Principle in a World of Uncertainty: Some Empirical Evidence. Economic Modelling, Vol. 56, No. C, pp. 35-42.

Arestis P., Karoglou M. and K. Mouratidis (2016). Monetary Policy Preferences of the EMU and the UK. Manchester School of Economic and Social Research, Vol. 84, No. 4, pp.  528–550.

 Arestis P., González-Martínez, A.R.  and Ó. Dejuán. (2016.) Investment, Financial Markets and Uncertainty.  Economia e Sociedade Vol. 25, No. 3(58), pp. 511-532).

Arestis P.,  and A.R. González-Martinez (2016). “House Prices and Current Account Imbalances in OECD Countries, International Journal of Finance and Economics, Vol. 21,

 


2015

McCombie J. S. L., and M.R. Spreafico, (2015). Kaldor’s ‘technical progress function’ and Verdoorn’s law revisited. Cambridge Journal of Economics, Vol 40(4), pp. 1117-1136.

Felipe J., and McCombie, J. S. L. (2014). The aggregate production function: ‘Not even wrong’. Review of Political Economy, Vol. 26(1), pp. 60-84.

Arestis P., and A.R. González-Martinez (2015). Is Job Insecurity a Driver of the Housing Cycle? Some Evidence in the Spanish Case, Panoeconomicus, Vol. 62, No. 1 pp. 1-14.

Arestis P., and M.F. da Cunha Resende (2015). Fiscal Policy and the Substitution between National and Foreign Savings”, Journal of Post Keynesian Economics, Vol. 37, No. 3, pp. 436–458)

Arestis P. (2015). Coordination of Fiscal with Monetary and Financial Stability Policies Can Better Cure Unemployment”, Review of Keynesian Economics, Vol. 3, No. 2, pp. 233-247.

Arestis P. (2015). Current and Future European Central Bank Monetary Policy, Brazilian Keynesian Review, Vol. 37, No. 3, pp. 436-458.

Arestis P., and with A.R. González-Martinez (2015). Residential Construction Activity in OECD Economies. Manchester School of Economic and Social Research, Vol. 83, No. 4, pp. 451-474.

Arestis P., Chortareas G. and G. Magkonis (2015). The Financial Development and Growth Nexus: A Meta-Analysis", Journal of Economic Surveys, Vol. 29, No. 3, pp. 549–565.

Arestis P.,  (2015). On the Sustainability of the Euro, Wirtschaft und Management, Band 22, pp. 51-64.

Arestis P., Charles, A. and G. Fontana (2015). Power, Intergroup Conflicts and Social Stratification in the United States: What Has the Global Crisis Taught Us? Review of Social Economy, Vol. LXXIII, No. 4.

 

Books

2015

Felipe, J., & McCombie, J. S. L. (2013). The Aggregate Production Function and the Measurement of Technical Change: ‘Not Even Wrong’., Edward Elgar Publishing (ppb 2015).

Arestis, P. and Sawyer, M. (2015), Finance and the Macroeconomics of Environmental Policies, Palgrave Macmillan.

2016

Arestis, P. and Sawyer, M. (2016), Emerging Economies During and After the Great Recession, Palgrave Macmillan.  

 Arestis, P. and Sawyer, M. (2016), Financial Liberalisation: Past, Present and Future, Palgrave Macmillan.

2017

 Arestis, P. and Sawyer, M. (2017), Economic Policies since the Global Financial Crisis, Palgrave Macmillan.

 Arestis, P., Baltar, C.T. and Prates, D.M. (2017), The Brazilian Economy since the Great Financial Crisis of 2007/2008, Palgrave Macmillan.

2018

 Arestis, P. (2018), Alternative Approaches in Macroeconomics: Essays in Honour of John McCombie, Palgrave Macmillan.

Arestis, P. and Sawyer, M. (2018), Inequality: Trends, Causes, Consequences, Relevant Policies, Forthcoming, Palgrave Macmillan

2019

Arestis, P. and Sawyer, M., “Frontiers of Heterodox Macroeconomics”, (Palgrave Macmillan, 2019)

2020

Arestis, P. and Sawyer, M., “Economic Policies for Sustainability and Resilience”, (Palgrave Macmillan, 2020)