Working papers / work in progress
2025
An analytical heterogeneous agent macro model of concentration, markups, and falling labour shares (with Jo Michell and Ayoze Alfageme), SSRN Working Paper
What goes up, must come down. Speculation-encouraging institutions and house price cycles across countries (with Engelbert Stockhammer and Ben Tippet), PKES Working Paper 2516
Peer-reviewed journal articles
2024
Capital Flows and the Eurozone’s North-South Divide. Politics & Society, 52(2), 304-330.
2023
House price cycles, housing systems, and growth models (with Ben Tippet and Engelbert Stockhammer). European Journal of Economics and Economic Policies: Intervention, 20(3), 461-490.
Energy price shocks, conflict inflation, and income distribution in a three-sector model (with Rafael Wildauer, Adam Aboobaker, and Alex Guschanski). Energy Economics, 127B, 106982. LSE Business Review Blog
Global financial uncertainty shocks and external monetary vulnerability: The role of dominance, exposure, and history (with Bruno Bonizzi and Annina Kaltenbrunner). Journal of International Financial Markets, Institutions and Money, 88, 101818.
2022
Capital flows and geographically uneven economic dynamics: A monetary perspective. Environment and Planning A: Economy and Space, 54(8), 1510-1531. Winner of 2023 EAEPE Kapp Prize.
Flexible exchange rates in emerging markets: shock absorbers or drivers of endogenous cycles? (with Engelbert Stockhammer). Industrial and Corporate Change, 32(2), 551–572.
Estimating Nonlinear Business Cycle Mechanisms with Linear Vector Autoregressions: A Monte Carlo Study (with Robert Calvert Jump). Oxford Bulletin of Economics and Statistics, 84(5), 1077-1100.
Learning from distant cousins? Post-Keynesian Economics, Comparative Political Economy, and the Growth Models approach (with Engelbert Stockhammer). Review of Keynesian Economics, 10(2), 184-203.
A history of aggregate demand and supply shocks for the United Kingdom, 1900 to 2016 (with Robert Calvert Jump). Explorations in Economic History, 85, 101448.
Growing differently? Financial cycles, austerity, and competitiveness in growth models since the Global Financial Crisis (with Engelbert Stockhammer). Review of International Political Economy, 29(4), 1314-1341.
2019
Short and medium term financial-real cycles: An empirical assessment (with Engelbert Stockhammer, Robert Calvert Jump, and Julian Cavallero). Journal of International Money and Finance, 94, 81-96.
The impact of financialisation on the wage share. A theoretical clarication and empirical test (with Alexander Guschanski and Engelbert Stockhammer). Cambridge Journal of Economics, 43, 937-974. Blog at Brave New Europe. Blog at WiSo (in German).
Exchange rate dynamics, balance sheet effects, and capital flows. A Minskyan model of emerging market boom-bust cycles, Structural Change and Economic Dynamics, 51, 270-283.
2018
Verteilungseffekte von Finanzialisierung (with Alexander Guschanski and Engelbert Stockhammer). Kölner Zeitschrift für Soziologie und Sozialpsychologie. 70, Supplement 1, 37-63.
2017
Currency devaluations, aggregate demand, and debt dynamics in economies with foreign currency liabilities. Journal of Post Keynesian Economics. 40(4), 487-511.
2014
Unemployment, capital accumulation and labour market institutions in the Great Recession (with Engelbert Stockhammer and Alexander Guschanski). European Journal of Economics and Economic Policies: Intervention. 11(2), 182-194.
Book chapters
Post Keynesian and structuralist approaches to boom-bust cycles in emerging economies, in: Bonizzi, B., Kaltenbrunner, A., Ramos, R.A. (eds.) Emerging Economies and the Global Financial System. Post-Keynesian Analysis. Routledge 2021.
Financialization and demand regimes in advanced countries (with Engelbert Stockhammer), in: Mader, P., Mertens, D. and Zwan, N. (eds) International Handbook of Financialization, Routledge 2020. Working paper version.
Linking a post-Keynesian approach to critical political economy: Debt-driven growth, export-driven growth and the crisis in Europe (with Engelbert Stockhammer), In: Jäger, J. and Springler, E. (eds) Asymmetric Crisis in Europe and Possible Futures: Critical Political Economy and Post-Keynesian Perspectives, Routledge 2015, pp.34-49.
Karsten Kohler 