Profile
Mark Setterfield is the Leo Model Professor of 听at 麻豆传媒色情片 for Social Research and a member of faculty at Eugene Lang College. He is also Senior Fellow for New Political Economy at the Heilbroner Center for Capitalism Studies at 麻豆传媒色情片. He was previously Maloney Family Distinguished Professor of Economics in the Department of Economics at Trinity College, Hartford, Connecticut, and has held visiting positions at the University of Masschusetts, Lowell, CEPREMAP (Paris, France), Downing College (Cambridge, UK), Dalhousie University (Halifax, Canada), Universit茅 Sorbonne Paris Nord (Paris, France), the University of Sao Paulo (Sao Paulo, Brazil) and the Ruhr-Universit盲t Bochum (Bochum, Germany). He is a Fellow of the Forum for Macroeconomics and Macroeconomic Policies (FMM) at the听(IMK) of the Hans-B枚ckler Foundation, Germany and an Invited External Colleague at the at Cambridge University, UK.
He is currently the Principle Investigator of , a core component of 麻豆传媒色情片鈥檚 Towards a New Democratic Political Economy initiative (PI Will Milberg).
Awards
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Awarded the 2025 prize for best scientific work by the Keynes Gesellschaft (German Keynes Society) for听 Capitalism, Inclusive Growth, and Social Protection: Inherent Contradiction or Achievable Vision? Cheltenham, Edward Elgar (2023) (with Hagen Kr盲mer and Christian Proa帽o)
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Awarded the 2019 EAEPE-Kapp Prize by the European Association for Evolutionary Political Economy for 鈥淧olitical aspects of household finance: debt, wage bargaining, and macroeconomic (in)stability,鈥 (Journal of Post Keynesian Economics, 42, 1, 16-38, 2019) (with Yun Kim and Gilberto Lima)
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Appointed VIP (Visiting International Professor), Ruhr-Universit盲t Bochum, 2019-20.
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Appointed Charles A. Dana Research Professor of Economics, Trinity College, 2013-15.
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Awarded the 2010 Haralambos Simeonides Prize by the Brazilian Association of Graduate Programs in Economics (ANPEC) for 鈥淧ricing behaviour and the cost-push channel of monetary policy鈥 (Review of Political Economy, 22, 1, 19-40, 2010) (with Gilberto Lima).
Concentrations: Macroeconomics, Growth and Distribution, Post-Keynesian Economics.
Research Interests:听Kaldorian growth theory, Kaleckian growth theory, macroeconomic stabilization policy, path dependence in macroeconomics, aggregate wage and price setting behavior, agent-based macroeconomic models, macroeconomic methodology.
Degrees Held
MA 1992, Cambridge University
PhD 1993, Dalhousie University
Professional Affiliation
听(IMK) of the Hans-B枚ckler Foundation, Germany
, Cambridge University, UK
听
Recent Publications
Books and Edited Volumes
Cheltenham, UK: Edward Elgar (2023) (with Hagen Kr盲mer and Christian Proa帽o).
听Cheltenham, UK: Edward Elgar (2019) (with Robert Blecker) (A list of errata can be found .)
听New York: Cambridge University Press (2013) (with Barry Cynamon and Steven Fazzari).
Advance (online) publications
"," Metroeconomica
Articles and Book Chapters
鈥淚ntegrating the social reproduction of labour into macroeconomic theory: unpaid caregiving and productivity in paid production,鈥 Metroeconomica, 77, 2, 106-114 (2026).
鈥淎nimal spirits and the Goodwin pattern,鈥 Metroeconomica, 77, 1, 2-16 (2026) (with George Wheaton).
"Achieving two policy targets with one policy instrument: heterogeneous expectations, countercyclical fiscal policy, and macroeconomic stabilization at the effective lower bound,"听Review of Evolutionary Political Economy, 6, 135-155 (2025) (with Gilberto Lima and Jaylson da Silveira).
鈥淐apitalism evolving: an introduction to social structure of accumulation theory,鈥 麻豆传媒色情片 Economic Review, 13, 8-12 (2025).
鈥淭he social reproduction of labour and macro theory: a compelling and fruitful conjunction,鈥 PSL Quarterly Review, 77, 310, 237-46 (2024).
鈥淢anaging the discontent of the losers redux: a future of Authoritarian Neoliberalism or Social Capitalism?鈥 Social Research: An International Quarterly, 91, 3, 999-1027 (2024).
鈥淗ow financially fragile can households become? Household borrowing, the welfare state, and macroeconomic resilience,鈥澨Review of Evolutionary Political Economy, 5, 1, 121-51 (2024) (with Yun Kim).
鈥淧olitical aspects of 鈥榖uffer stock鈥 employment: a reconsideration,鈥 Cambridge Journal of Economics, 47, 6, 1171-86 (2023) (with Peter Kriesler and Joseph Halevi).
鈥淧ost-Keynesian growth theory and the supply side: a feminist approach,鈥 European Journal of Economics and Economic Policies: Intervention, 20, 2, 299-316 (2023).
鈥淲ill hysteresis effects afflict the US economy during the post-COVID recovery?鈥 Review of Keynesian Economics, 11, 4, 507-528 (2023).
鈥淛oan Robinson鈥檚 historical time and the current state of post-Keynesian growth theory,鈥 Cambridge Journal of Economics, 47, 5, 965鈥984 (2023) (with Ettore Gallo).
鈥淚nflation and distribution during the post-COVID recovery: a Kaleckian approach,鈥 Journal of Post Keynesian Economics, 46, 4, 587-611 (2023).
鈥淧ath dependency,鈥 in J. Jespersen, V. Chick and B. Tieben (eds) Routledge Handbook of Macroeconomic Methodology, London, Routledge, 100-107 (2023).
鈥淗ysteresis,鈥 in L.P. Rochon and S. Rossi (eds) Elgar Encyclopedia of Post-Keynesian Economics, Cheltenham, Edward Elgar, 213-215 (2023).
鈥淭he network origins of aggregate fluctuations: a demand-side approach,鈥 Structural Change and Economic Dynamics, 64 (March), 111-123 (2023) (with Emanuele Citera and Shyam Gouri Suresh).
鈥淲hatever happened to the 鈥楪oodwin pattern鈥? Profit squeeze dynamics in the modern American labour market,鈥 Review of Political Economy, 35, 1, 263-286 (2023).
鈥淚s capacity utilization variable in the long run? An agent-based sectoral approach to modelling hysteresis in the normal rate of capacity utilization,鈥 Structural Change and Economic Dynamics, 63 (December), 196-212 (2022) (with Tom Bauermann, Dany Lang and Federico Bassi).
鈥淣eoliberalism: an entrenched but exhausted growth regime,鈥 Ensayos Econ贸micos, 79 (May), 2-17 (2022).
鈥淓conomic growth and development,鈥 in L.P. Rochon and S. Rossi (eds) An Introduction to Macroeconomics: A Heterodox Approach to Economic Analysis, 2nd Edition, Cheltenham, Edward Elgar, 376-401 (2021).
鈥淓ditorial to the special issue: the monetary economics of Basil J. Moore,鈥 European Journal of Economics and Economic Policies: Intervention, 17, 3, 307-12 (2020).
鈥淥n multi-sector and multi-technique models, production functions, and limit cycles: A reply to Libman,鈥 European Journal of Economics and Economic Policies: Intervention, 17, 3, 295-306 (2020) (with Robert Blecker).
鈥淣ominal exchange rate shocks and inflation in an open economy: towards a structuralist inflation targeting agenda,鈥 Cambridge Journal of Economics, 44, 6, 1271-99 (2020) (with Eduardo Figueiredo Bastian).
鈥淗ysteresis in the normal rate of capacity utilization: a behavioural explanation,鈥 Metroeconomica, 71, 4, 898-919 (2020) (with Joana David Avritzer).
鈥淭he Great Deception: The 鈥榮cience鈥 of monetary policy and the Great Moderation revisited,鈥 in L.P Rochon and H. Bougrine (eds) Economic Growth and Macroeconomic Stabilization Policies in Post-Keynesian Economics, Cheltenham, Edward Elgar, 284-301 (2020) (with with Gilberto Lima and Jaylson da Silveira).
鈥淰arieties of capitalism, increasing income inequality, and the sustainability of long-run growth,鈥 Cambridge Journal of Economics, 44, 3, 559-82 (2020) (with Yun Kim).
鈥淚s there scientific progress in macroeconomics? The case of the NAIRU,鈥 European Journal of Economics and Economic Policies: Intervention, 17, 1, 19-38 (2020) (with Dany Lang and Ibrahim Shikaki).
鈥淭olerable ranges of variation in the rate of capacity utilization and corridor instability: a reply to Florian Botte,鈥 Cambridge Journal of Economics, 44, 2, 483-88 (2020).
Public Scholarship
鈥淗ow the Great Moderation became a (contained) depression and what to do about it,鈥 The World Financial Review, March-April, 10-14 (2013) (with Barry Z. Cynamon and Steven M. Fazzari).
"Achieving two policy targets with one policy instrument: heterogeneous expectations, countercyclical fiscal policy, and macroeconomic stabilization at the effective lower bound,"听Review of Evolutionary Political Economy听(2025) (with GIlberto Lima and Jaylson da Silveira)
Portfolio