Matteo Deleidi and Mariana Mazzucato

Author Archive | Matteo Deleidi and Mariana Mazzucato


Putting Austerity to Bed: Technical progress, aggregate demand and the supermultiplier

This paper investigates the determinants of private investment and economic growth from a theoretical perspective. We start with a critical analysis of the crowding-out effect and we present a new version of the Sraffian Supermultiplier, i.e. a model that accounts for both the multiplier and accelerator effects. We show that aggregate demand influences output in […]

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Five Key Points for Italy’s Banking Woes

This is the English version of an article originally published by La Repubblica on August 8, 2016. There is serious concern about Italy’s banks and whether the bad debt they are carrying signals trouble for the Eurozone. In facing up to its troubled financial system Italy’s political leaders could also benefit from a moment of […]

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Financing Renewable Energy: Who Is Financing What and Why It Matters

Accelerating innovation in renewable energy (RE) requires not just more finance, but finance servicing the entire innovation landscape. Given that finance is not ‘neutral’, more information is required on the quality of finance that meets technology and innovation stage-specific financing needs for the commercialization of RE technologies. We investigate the relationship between different financial actors […]

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A State-Powered Green Revolution

LONDON – Discussions about building a green future tend to focus on the need to improve the generation of energy from renewable sources. But that is just the first step. Better mechanisms for storing and releasing that energy – when the sun isn’t shining, the wind isn’t blowing, or when electric cars are on the […]

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Toward a Green New Deal

The global agreement reached in Paris last week is actually the third climate agreement reached in the past month. The first happened at the end of November, when a group of billionaires led by Bill Gates, Mark Zuckerberg, and Jeff Bezos announced the creation of a $20 billion fund to back clean-energy research. On the […]

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Non lasciamo solo ai privati la green economy

L’impegno della Silicon Valley per la promozione delle energie pulite è ammirevole. Così come l’accordo di Parigi. Ma non bastano. Per una rivoluzione a basse emissioni, è necessario che settore pubblico e privato si adoperino più a fondo per l’innovazione verde, con politiche orientate all’offerta e alla domanda

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From Market Fixing to Market-Creating: a new framework for economic policy

Many countries are pursuing innovation-led ‘smart’ growth, which requires certain types of long-run strategic investments. This paper argues that such investments require public policies that aim to create markets, rather than just ‘fixing’ market failures (or system failures). Such ‘mission-oriented’ investments have led to men walking on the moon (which created spillovers across the economy) […]

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