Corpus ID: 167675416

Can Goldilocks Survive

  title={Can Goldilocks Survive},
  author={W. Godley and L. Randall Wray},
Growing government budget surpluses combined with growing trade deficits have generated record private sector deficits. Unless households continue to reduce their saving--creating an increasingly unsustainable debt burden--the impetus that has driven the expansion will evaporate. 
Fiscal Policy and Financial Fragility: Why Macroeconomic Policy is Failing
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Policy Note 2000 / 7 Why Does The Fed Want Slower Growth ?
The Fed has raised interest rates six times in the past year to slow the economy in the belief that unemployment is too low. There is scant evidence, however, that low unemployment leads toExpand
Why Does The Fed Want Slower Growth
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The strategic prospects for the US (or any) economy can be evaluated by reference to the financial balances of its main sectors, which are related to one another by a consistent accounting system.Expand
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Articolo originariamente pubblicato in Moneta e Credito, vol. 57 n. 226, giugno 2004, pp. 151-160.
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The U.S. economy is probably now in recession, and a prolonged period of subnormal growth and rising unemployment is likely unless there is another round of policy changes. A further relaxation ofExpand
The Euro: Market Failure or Central Bank Failure?
  • Jörg Bibow
  • 2002
Why has the value of the euro fallen? This economist believes that the European Central Bank's efforts to support the euro slowed economic growth to the point that it caused the value of the euro toExpand
* The present version of this paper was presented at a conference on Post-Keynesian Economics: Theory and Policy at the University of Notre Dame on May 14, 2001. A much earlier version of this paperExpand
Working Paper No . 273 Saving-Recycling Public Employment : An Assets-Based Approach To Full Employment and Price Stability
William Vickrey's single-minded commitment to full employment is evident in a series of papers written in the last years of his life (Vickrey, 1992a, 1992b, 1993a, 1993b, 1993c, 1994, 1996, 1997). InExpand
Is Europe Doomed to Stagnation? An Analysis of the Current Crisis and Recommendations for Reforming Macroeconomic Policymaking in Euroland
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In this paper the impact of fiscal policy is analyzed within the context of an endogenous growth and cycles model. The investigation shows the different situations in which government expenditure canExpand
Finance and the Macroeconomic Process in a Classical Growth and Cycles Model
The aim of this paper is to derive an endogenous growth and cycles model which integrates the sectoral incomes, expenditures, and finance requirements into an ex ante social accounting matrix (SAM)Expand
Seven Unsustainable Processes: Medium-Term Prospects and Policies for the United States and the World
The purpose of the paper is not to make short-term predictions about the life expectancy of the current economic expansion in the United States, but to determine if the present stance of fiscal andExpand
Money and credit in a Keynesian model of income determination
This paper integrates the theory of money and credit derived ultimately from Wicksell into the Keynesian theory of income determination, with assets allocated according to Tobinesque principles. TheExpand
Goldilocks and the Three Bears
Goldilocks's trusted attendants assured her that it had been scientifically proven beyond any doubt that bears cannot exist and thus are nothing more than figments of the imagination of those whoExpand
How Negative Can We Get
How Should the Surpluses Be Spent