Fiscal and Monetary Policies in a Keynesian Stock-Flow Consistent Model

Following the New Classical Macroeconomics and the New Keynesian Macroeconomics, the independence of central banks significantly increased after 1990, which could preclude the coordination between the fiscal and the monetary policies. The purpose of this paper is to consider the stabilizing effects of fiscal policy within the framework of the new monetary policies implemented by independent central banks.Firstly, we build a Post Keynesian stock-flow consistent (SFC) model with a private banks sector introducing more realistic features. New Keynesian Macroeconomics replaces the three equations of the Keynesian synthesis (IS-LM-Phillips Curve) by three new equations of the new consensus: an IS relation, a Taylor Rule and a New Keynesian Phillips Curve (IS-TR-NKPC). Our Post Keynesian SFC model replaces the IS relation. Secondly, we make simulations by imposing supply shocks (cost push) corresponding to an inflationary shock. The consequences are examined for two kinds of policy mix, for two countries: (i) For country (1), monetary policy is determined by a standard Taylor rule that corresponds to a dual mandate: output gap and inflation gap. Fiscal policy has a countercyclical effect. Broadly speaking, country (1) describes the United States. (ii) For country (2), monetary policy is determined by a ‘truncated’ Taylor rule that corresponds to a unique mandate: inflation gap only. Fiscal policy is neutralized, because we assume that the ratio of the current deficit of the Government (GD) on the GDP is constant and equal to zero, as imposed by the Maastricht Treaty. Broadly speaking, country (2) describes the European Union.Monetary policy, fiscal policy, stock- flow consistent model, post-keynesian macroeconomics

Assembling a Blue Economy moment? Geographic engagement with globalizing biological-economic relations in multi-use marine environments

In the 2010s, the Blue Economy' has been widely advocated by a spectrum of interests as a strategy to save the world's oceans and water. This article explores what the Blue Economy moment is and how geographers can engage with it. It acknowledges recent efforts by geographers to understand Blue Economy but goes further by outlining the European Union's Blue Economy programmes and by discussing these in relation to recent agenda setting in marine science. We argue that in spite of apparent convergence on this goal, the Blue Economy imaginary disciplines disparate knowledge for economic projects, when the planetary reality is that every economic project is axiomatically a biological project, with some economic aspects. In this context, the article outlines how assemblage thinking could be relevant to a human geography engagement with Blue Economy and what this could like, and how a relational conception of Blue Economy helps advance understanding. Finally, we discuss the difficulties and potential for human geographers to be genuinely enactive given the disciplinary framings that have already been assumed or imposed through Blue Economy. This last is highlighted by discussing engagement in a particular New Zealand Blue Economy initiative. Rather than either promoting or critiquing Blue Economy, we encourage informed and critical engagement with Blue Economy by geographers

Further assembly work: A mountains to seas Blue Economy imaginary

In response to the suggestions of our commentators, we sketch in some new directions for geographic assembly work aimed at developing situated holistic Blue Economy imaginaries. We focus on several interlinked provocations: conceptualizing mountains to seas imaginaries, centring water, rethought relations of governmentality and governance derived from new ethically informed behaviours, strategies for transitioning conceptions into new policy models and attentiveness to global economic and environmental futures

New Geographies of Accumulation, Globalising Firm Networks and the Role of the Auckland Region in the Australasian Economy

Surprisingly little theoretical or empirical research is available on Auckland’s actual functional and geographic connectivity, including developments relating to closer economic relations with Australia. This paper draws on the geography of accumulation literatures to argue that close attention must be given to developments in the three circuits of capital (trade, production and finance) if the changing character and contributions of globalising firm networks are to be discerned and understood. The empirical investigations show that for Australian owned firms globalising rather than purely Australasian networks are the norm, network complexity is considerable and that it makes sense to think of Auckland’s economy in globalising terms. A globalising networks perspective means that estimates of the magnitude and assessments of the character of employment contributions of Australian owned firms to the Auckland economy reflects these interdependencies

Student Understandings of Information Systems Design, Learning and Teaching: A Phenomenography Approach

Phenomenographic studies have shown clear links between the approach students take to learning and the achievement of deep versus surface learning outcomes in higher education. The context in which learning takes place is a key factor in these studies. The purpose of this research is to discover the conceptions of learning, teaching and information systems design held by a diverse group of 60 second-year university students and to determine whether there are differences between field-dependent and field-independent students. Our context-dependent findings on student conceptions of teaching and learning are descriptive in nature. These findings were integrated into an outcome space of student conceptions of information systems design, which is interpreted with respect to existing theory on differences between field-dependent and field-independent students and the cognitive demands of learning information systems design. The results have implications for teaching practice and further research on the effects of qualitative variations in student conceptions on the achievement of deep versus surface levels of learning about information systems design

The glacier-influenced marine record on high-latitude continental margins: Synergies between modern, Quaternary and ancient evidence

Major glaciations or ‘ice ages’ are known to have affected the Earth's surface over the past three billion years. The best preserved records of these glaciations are often found in high-latitude continental margin settings where sediment has been delivered to, and then accumulated at, the edge of the ice sheet in thick glacier-influenced marine sequences. The composition and geometry of these deposits and the related assemblages of glacial landforms provide a wealth of information about the environmental setting during successive cycles of glaciation and deglaciation, including ice-dynamic and oceanographic processes. Here, we discuss modern (present day), Quaternary (last 2.6 myr) and ancient (last 1 gyr) high-latitude continental margin settings, and then contrast the methodologies used and glacier-influenced deposits and landforms most often identified for each time period. We use examples from the literature to identify synergies, as well as to note differences, between studies of glacier-influenced sediments from ancient to modern environments