This text highlights the major empirical questions and issues facing Post Keynesian economics today. Featuring contributions by leading Post Keynesian economists, it focuses on public policy and real-life analysis of this vibrant and dynamic economic theory. In language that is accessible to upper-level undergraduate and graduate students, professional economists, and public policy makers, each of the chapters takes on a specific issue of concern to all professional economists, provides empirical analysis of the issue, and then discusses the Post Keynesian view on the topic and contrasts it with the orthodox perspective. The topics covered are grouped into three main categories: empirical studies of consumption; empirical studies of business investment; and empirical studies of international economic relations.
List of Tables and Figures; 1. Empirical Analysis and Post Keynesian Economics, Richard Holt and Steven Pressman; Part I. Empirical Studies of Consumption; 2. What Can Post Keynesian Economics Teach Us About Poverty? Steven Pressman; 3. Unemployment, Inequality, and the Policy of Europe: 1984-2000, James K. Galbraith and Enrique Garcilazo; 4. The Racial U-Curve in U.S. Residential Credit Markets in the 1990s: Drawing Empirical Evidence from a Post Keynesian World, Gary A. Dymski and Carolyn B. Aldana; 5. An Analysis of Credit Card Debt Default, Robert H. Scott III; Part II. Empirical Studies of Business Investment; 6. The Dynamics of Innovation and Investment, with Application to Australia, 1984-1998, Jerry Courvisanos; 7. Kalecki's Investment Theory: A Critical Realist Approach, Anthony J. Laramie, Douglas Mair, and Anne G. Miller; 8. Bubbles or Whirlpools? An Empirical Analysis of the Effects of Speculation and Financial Uncertainty on Investment, Michelle Baddeley; 9. An Analysis of the Shrinking Supply of Equity and the U.S. Stock Market Boom: Does Supply Matter? Lawrance L. Evans, Jr.; Part III. Empirical Studies of International Economic Relations; 10. The Effect of Distribution on Accumulation, Capacity Utilization, and Employment: Testing the Profit-led Hypothesis for Turkey, Ozlem Onaran and Engelbert Stockhammer; 11. Growth Under External Constraints in Brazil: A Post Keynesian Approach, Frederico Jayme, Jr.; Index; About the Editors and Contributors.