Keynes’s investment theory as a micro-foundation for his grandchildren

Nisticò, Sergio

doi:10.5018/economics-ejournal.ja.2020-24

Cited by 3 publications

(2 citation statements)

References 17 publications

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“…On the contrary, the modern consumption theory is not that much advantageous at all when it comes to talking about the concept of saving a luxury, attains the same result by presenting the probability of liquidityconstraints people (Nisticó, 2020). The applications of this theory with the current study are that it helps the people in earning and expanding money and supports the cycle produced by the people which is based on earning and expending.…”

Section: Theoretical Frameworkmentioning

confidence: 71%

An Analysis of the Determinants of Household Consumption Expenditure and Poverty in Indonesia

Suriani

2020

2641-5313

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The main question of the research that is examined in the research is what the determinants of household consumption expenditure and poverty in Indonesia are. For this purpose, six key variables were selected which includes, household consumption expenditure, level of gross national income (GNI), level of population, lending interest rate, unemployment rate and also global financial crises. However, paper specifically attempted to conduct data analysis on the Indonesia; hence data of Indonesia was collected from World Bank Data centre. Data for the Indonesia was available for the period of 1990 to 2019. To determine stationarity of the data, Augmented Dickey-fuller (ADF) test was conducted. The ADF revealed that data was non-stationary and to resolve the issue of unit root, second difference of the variables resolved the issue and tests were conducted on second difference. Furthermore, instead of using the ordinary least square (OLS) regression, autoregressive distrusted lag model (ARDL) was preferred. The bound test reveals that there is long-run effect means cointegration present among the variable; hence the household consumption expenditure could be used to predict or estimate the household consumption and poverty in long-run. Meanwhile, ARDL results has suggested that there is no short-run effect of any of the regressors on the regressand household consumption expenditure and poverty.

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Section: Theoretical Frameworkmentioning

confidence: 71%

An Analysis of the Determinants of Household Consumption Expenditure and Poverty in Indonesia

Suriani

2020

2641-5313

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“…Keynes (1998). The key idea of the Theory of Investment is as follows: to increase the rate of economic growth and, in particular, to overcome a crisis, there is a need for investments, which nature could be different (including financing of the development of business, an increase in consumption through the reduction in savings, government financial support for economic subjects, and foreign direct investment) but which are equal (Cristiano et al 2018;Harvey 2021;Nisticò 2020).…”

Section: Literature Reviewmentioning

confidence: 99%

Corporate Social Responsibility as an Alternative Approach to Financial Risk Management: Advantages for Sustainable Development

Yankovskaya

Mustafin

Endovitsky

et al. 2022

Risks

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Using the example of the COVID-19 global crisis (2020), we prove the low effectiveness of the existing approach to managing the financial risks of investments based on commercial investments. For this, we performed an applied quantitative study based on the statistics from the World Bank for 2020 and the Forbes Global 2000 ranking in 2021, using as an example 17 developing countries with lower-middle and upper-middle incomes from different regions of the world. As an alternative, we suggest a new approach for managing the financial risks of investments, which is based on corporate social responsibility. It implies the placement of long-term, large-scale investments in social and ecological innovations based on the mechanism of public-private partnership. We substantiated the high effectiveness and advantages of the new approach. The new approach to financial risk management amid a crisis was more effective (in comparison with the existing approach) for businesses (ensures higher return on investments, allows avoiding losses), the government (contributes more to economic growth, the probability of which achievement is higher), and for society (supports SDGs to a larger extent and contributes to sustainable development). This paper contributes to the development of the Theory of Investments (Neo-Keynesianism) and fills a gap in the literature, bridging the gap between the Theory of Investments and the Theory of Sustainable Development—outlining the perspectives of the simultaneous overcoming of economic crises and supporting sustainable development during the management of financial investment risks based on corporate social responsibility.

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Shackle’s Enquiry Into Choice

Bianchi¹,

Nisticò²

2022

oeconomia

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Despite the several attempts to rework on his ideas, using non-mainstream approaches, George L. Shackle has remained an outsider in the economic discipline. Shackle, however, if we take seriously what he thought of economics, as a discipline concerned with a subject that is not self-contained but open-ended and impermanent, is not a man alone. Starting from an assessment of Shackle’s understanding of choice as originative and creative, the paper argues that Shackle should be rescued from the role of a nihilist where he is often relegated. In this perspective, a fundamental key to assessing the originality and anticipatory character of Shackle’s contribution can be found in the recent developments of several “friendly” disciplines such as the psychology of motivations and of self-rewarding actions, narrative as the “science” of the possible and the role of calendar time in choice theory. In fact, all these novel rethinkings can contribute to the understanding of Shackle’s main point, that human (and therefore economic) agents are active, creative enterprisers, who cut the deterministic thread by injecting the new in history to come, in making a difference in the future courses of action.

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Keynes’s investment theory as a micro-foundation for his grandchildren

Cited by 3 publications

References 17 publications

An Analysis of the Determinants of Household Consumption Expenditure and Poverty in Indonesia

An Analysis of the Determinants of Household Consumption Expenditure and Poverty in Indonesia

Corporate Social Responsibility as an Alternative Approach to Financial Risk Management: Advantages for Sustainable Development

Shackle’s Enquiry Into Choice

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