This week we've brought you a double feature! First we talk to Luke Petach about his article on "Spatial Keynesianism." Macroeconomic policy was, at its inception, methodologically nationalist, and Keynesian policies fostered income convergence all across the US as poor regions caught up to wealthier ones. We talk about how that worked and why it ended.
Then we bring on his co-author and former adviser, Daniele Tavani to talk about the post-Keynesian tradition, its differences with the Marxian economic tradition, and how they might be brought together again under the rubric of secular stagnation. Along the way we discuss Italy's unique place in the post-Keynesian tradition, and Piketty's contribution to the profession.
The first ep ends and the second picks up @55:25.
*** LINKS ***
Follow Luke on twitter @LPetach
Read "Spatial Keynesian policy and the decline of regional income convergence in the USA" here: https://academic.oup.com/cje/article-abstract/45/3/487/6145995
Read "Income shares, secular stagnation and the long-run distribution of wealth" here: https://onlinelibrary.wiley.com/doi/abs/10.1111/meca.12277
Read "Aggregate Demand Externalities, Income Distribution, and Wealth Inequality" here: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3855763
Find more of Luke's papers here: https://scholar.google.com/citations?user=NUZzlFEAAAAJ&hl=en
Explore Daniele's work here: http://www.danieletavani.com/
Other papers mentioned:
Ganesh Sitaraman, Morgan Ricks & Christopher Serkin, "Regulation and the Geography of Inequality" https://dlj.law.duke.edu/article/regulation-and-the-geography-of-inequality-sitaraman-vol70-iss8/
Manduca, "How National Income Inequality in the United States Contributes to Economic Disparities Between Regions" https://equitablegrowth.org/how-national-income-inequality-in-the-united-states-contributes-to-economic-disparities-between-regions/
Nathan, "The Nationalization of Proposition 13," https://www.jstor.org/stable/418699
Kaldor, "The Case for Regional Policies," https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1467-9485.1970.tb00712.xVerdoorn's law, https://en.wikipedia.org/wiki/Verdoorn%27s_lawNakamura and Steinsson, "Fiscal Stimulus in a Monetary Union: Evidence from US Regions" https://www.aeaweb.org/articles?id=10.1257%2Faer.104.3.753
