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Submit a Manuscript to the Journal
Review of Political Economy

For a Special Issue on
Supermultiplier and Endogenous money

Manuscript deadline
31 May 2023

Cover image - Review of Political Economy

Special Issue Editor(s)

Oscar DeJuán, Universidad de la Castilla -La Mancha
[email protected]

Ricardo Summa, Universidade Federal do Rio de Janeiro
[email protected]

Maria Cristina Barbieri Góes, [email protected]

Riccardo Pariboni, University of Siena
[email protected]

Submit an ArticleVisit JournalArticles

Supermultiplier and Endogenous money

The Review of Political Economy invites contributions that explore the interrelations between the supermultiplier and the theory of endogenous money. The supermultiplier has recently started to be developed by researchers from other Post-Keynesian strands, besides Sraffians, and is establishing itself as an important component of heterodox Keynesian economics. The supermultiplier proposes that not only actual output but also the trend of productive capacity are determined by effective demand in monetary economies of production.

Both the principle of effective demand and the endogenous money theory are well-established foundations of Post-Keynesian economics, and thus perfectly compatible with each other.  Recent advances on endogenous money have focused on effective demand, distribution, macroeconomic policies, open economy, and finance. On the other hand, recent analysis on the supermultiplier for its part has focused on theoretical and empirical determinants of demand-led growth and its relationship with income distribution, macroeconomic policies as well as possible constraints to growth. In this sense, both the supermultiplier and endogenous money would appear to be compatible ideas. However, such a research agenda has not been obvious to many scholars, which is the reason we have decided to publish a special issue on this.

This symposium seeks innovative work to explore the interrelations between the supermultiplier and endogenous money theories. We are seeking contributions from a wide range of theoretical approaches, including but not limited to the various strands of post-Keynesian, neo-Schumpeterian and other heterodox schools of economic thought. Papers may present innovative research using empirical, theoretical, or historical methodologies.

Some of the relevant topics to be explored include:

  • Endogenous money, supermultiplier and the monetary and financial determinants and constraints of autonomous demand;
  • Endogenous money, supermultiplier and its relations with speculation, bubbles, financial fragility, and financial in/stability;
  • Endogenous money, supermultiplier and macroeconomic policies;
  • Endogenous money, supermultiplier and its interrelations with the Stock-Flow and the Monetary Circuit approaches and typical post-Keynesian models, for instance, balance of payments constraint, developmentalist, neo-Kaleckian models, and others;
  • Endogenous money, supermultiplier and the open economy;
  • Analysis of the Decarbonization of the economy through the supermultiplier-cum finance;
  • The supermultiplier with endogenous money in a disaggregate (input-output) setting.

Important dates:

August 31 2022: Please submit a letter of interest, with title and abstract of paper;

May 31, 2023: First version of paper to be submitted;

August 1, 2023: Decision of rejection or Revise and Resubmit;

October 1, 2023: Final version of paper to be submitted;

November 15, 2023: Final decision;

The issue is planned for April 2024. All papers will undergo a double-blind review process.

Submission Instructions

Articles are to be submitted through the journal's portal below:

Instructions for AuthorsSubmit an Article

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