Professor Kregel is currently Chief of the Policy Analysis and Development Branch of the Financing for Development Office in the Department of Economic and Social Affairs of the United Nations in New York City. He joined the UN in 1998 as a High Level Expert in International Finance and Macroeconomics for UNCTAD until 2001 and, then, as a Senior Inter Regional Adviser for the Trade and Development Report of UNCTAD until 2004. He is a member of the Scientific Advisory Boards of The Italian International Economic Center, Rome, and the Istituto per la Ricerca Sociale, Milan. Jan A. Kregel is associated with the Center for Full Employment and Price Stability at the University of Missouri Kansas City where he teaches as a Visiting Distinguished Research Professor.
Jan.A. Kregel was Professor in the Department of Economics of the Università degli Studi di Bologna and Adjunct Professor of International Economics in the Johns Hopkins University Paul Nitze School of Advanced International Studies where he also served as Associate Director of its Bologna Center from 1987-90. He received his Ph.D. from Rutgers University in 1970 under the supervision of Paul Davidson. Professor Kregel was also trained by Joan Robinson and Nicolas Kaldor at Cambridge University in the U.K. He has held permanent and visiting positions in universities in the United Kingdom, the United States, the Netherlands, Belgium, France, Germany and Mexico. He is a Life Fellow of the Royal Economic Society (U.K.), an Elected member of the Società Italiana degli Economisti, and a member of the American Economic Association.
Among his major published works are a series of books in the field of Post Keynesian economic theory, as well as over one hundred and thirty articles published as chapters of edited books and in scholarly journals including the Economic Journal, American Economic Review, Journal of Economic Literature, Journal of Post Keynesian Economics, Economie Appliquée, de Economist, and Giornale degli Economisti among others. His works have been published or translated in Italian, French, German, Dutch, Spanish, Basque, Portuguese, Greek, Japanese, Russian, Turkish, Finnish, Hungarian, Serbo-Croat, Hindi and Ukrainian.
In the 1970-75 period, Professor Kregel was concerned with synthesis,
integration and delineation of a Post Keynesian methodology and paradigm.
From the mid 1970s until the late 1980s, he worked on the analysis of decision
making under uncertainty, on formation of asset prices and on Keynes analysis
of Chapter 17 of the General Theory. In 1988, Professor Kregel showed that
Keynes’ liquidity preference and own rate analysis were actually two sides
of the theory of effective demand (1988a). His most recent works on price
formation and market structure provide a powerful critique of neoclassical
price theory and propose a Keynesian alternative in which expectations
of the future go into the determination of current price determination
and in which institutional arrangements undergird the process of price
formation.
Selection of Professor Kregel’s Publications
Kregel, J.A. (1971), Rate of Profit, Distribution and Growth:
Two Views. London: Macmillan; Chicago: Aldine.
Kregel, J.A. (1972), The Theory of Economic Growth. London:
Macmillan.
Kregel, J.A. (1973), The Reconstruction of Political Economy.
London: Macmillan.
Kregel, J.A. (1976a), The Theory of Capital. London:
Macmillan.
Kregel, J.A. (1976b), “Economic Methodology in the Face of Uncertainty:
the modeling Methods of Keynes and the Post-Keynesians.” Economic Journal,
Vol. 86, N° 346, June, pp. 209-25.
Kregel, J.A. (1976c), “Sraffa et Keynes: le taux d’intérêt
et le taux de profit.” Cahiers d’Economie Politique, Vol. 3, pp
: 135-63.
Kregel, J.A. (1977), “On the Existence of Expectations in English
Neoclassical Economics.” Journal of Economic Literature, Vol. 15,
N° 2, June, pp: 495-500.
Kregel, J.A. (1978), “Post-Keynesian Theory: Income Distribution.”
Challenge,
Vol. 22, N°4. September-October, pp: 37-43.
Kregel, J.A. (1980a), “Marx, Keynes and Social Change: Is Keynesian
Theory Neo-Marxist?,” in E.J. Nell (ed.) Growth, Profits and Prosperity.
New York: Cambridge University Press.
Kregel, J.A. (1980b), "Economic Dynamics and the Theory of Steady
Growth: An Historical Essay on Harrod’s Knife Edge.” History of Political
economy, Vol. 12, N° 1, spring, pp: 97-123.
Kregel, J.A. (1980c), “Markets and Institutions as features
of a capitalistic Production System.” Journal of Post Keynesian Economics.
Vol.
3, N° 1, fall, pp: 32-48.
Kregel, J.A. (1980d), “The Theoretical Consequences of Economic
Methodology: Samuelson’s Foundations.” Metroeconmica, Vol. 32, N°
1, February, pp: 25-38.
Kregel, J.A. (1982), “Microfoundations of Hicksian Monetary
Theory.” de Economist, Vol. 130, N° 4, pp: 465-92.
Kregel, J.A. (1983a), “Effective Demand: Origins and Development
of the Notion,” in Distribution, Effective Demand and International
Economic Relations. London: Macmillan, pp: 50-68.
Kregel, J.A. (1983b), “The Microfoundations of the ‘Generalisation
of the General Theory’ and ‘Bastard Keynesianism’: Keynes’ Theory in the
Long and the Short Period.” Cambridge Journal of Economics, Vol.
7, N° 3/4, September-December, pp: 343-61.
Kregel, J.A. (1984-5), “Constraints on the Expansion of Output
and Employment.” Journal of Post Keynesian Economics, Vol. 7, N°
2, pp: 139-52.
Kregel, J.A. (1985), “Hamlet Without the Prince: Cambridge Macroeconomics
Without Money.” American Economic Review, Vol. 75, N° 2, May,
pp: 133-9.
Kregel, J.A. (1986a), “Shylock and Hamlet: Are there Bulls and
Bears in the Circuit?” Economie et Société, série
MP 3, pp : 11-22.
Kregel, J.A. (1986b), “A Note on Finance.” Journal of Post
Keynesian Economics, Vol. 9, N° 2, Fall, pp: 91-100.
Kregel, J.A. (1987), “The Effective Demand Approach to Employment
and Inflation Analysis.” Journal of Post Keynesian Economics, Vol.
10, N° 2, Fall, pp: 133-45.
Kregel, J.A. (1988a), “The Multiplier and Liquidity Preference:
Two Sides of the Theory of Effective Demand,” in A. Barrère (ed.),
The
Foundations of Keynesian Analysis. London: Macmillan.
Kregel, J.A. (1988b), “Irving Fisher, Great Grandparent of the
General Theory.” Cahiers d’Economie Politique, Vol. 13-14, pp :
59-68.
Kregel, J.A. (1988c), “Financial Innovation and the Organisation
of Stock Market Trading.” Banca Nationale del Lavoro Quarterly Review,
Vol. 40, N° 167, December, pp: 367-86.
Kregel, J.A. (1990), “The Formation of Fix and Flex Prices and
Monetary Theory: An Assessment of John Hicks’ A Market Theory of Money.”
Banca
Nationale del Lavoro Quarterly Review, Vol. 42, N° 157, December,
pp: 475-86.
Kregel, J.A. (1992a), “Some Considerations on the Causes of
Structural Change in Financial Markets.” Journal of Economic Issues,
Vol. 26, N° 3, September, pp: 733-47.
Kregel, J.A. (1992b), “Universal Banking, U.S. Banking Reform
and Financial Competition in the EEC.” Banca Nationale del Lavoro Quarterly
Review, Vol. 44, N° 182, September, pp: 231-54.
Kregel, J.A. (1992c), “Minsky’s ‘Two Price’ Theory of Financial
Instability and Monetary Policy: Discounting vs. Open Market Intervention,”
in S. Fazzari and D. Papadimitriou (eds.), Financial Conditions and
Macroeconomic Performance: Essays in Honor of Hyman P. Minsky. Armonk,
NY: M.E. Sharpe.
Kregel, J.A. (1994a), “Currency Speculation and the Summer 1993
Crisis in the ERM: Irrational Expectations and Imperfect Information.”
Economie
et Société, série MP 9, Janvier-Février,
pp : 301-14.
Kregel, J.A. (1994b), “Global Portfolio Allocation, Hedging
and September 1992 in the European Monetary System,” in P. Davidson and
J.A. Kregel (eds.), Growth, Employment and Finance – Economic Reality
and Economic Theory, Aldershot: Edward Elgar, pp: 168-83.
Kregel, J.A. (1994-5), “The Viability of Economic Policy and
the Priorities of Economic Policy.” Journal of Post Keynesian Economics,
Vol. 17, N° 2, Winter, pp: 261-77.
Kregel, J.A. (1995), “Neoclassical Price Theory, Institutions
and the Evolution of Securities Market Organisation.” Economic Journal,
Vol. 105, N° 429, December, pp: 459-70.
Kregel, J.A. (1998), “Aspects of Keynesian Theory of Finance.”
Journal
of Post Keynesian Economics, Vol. 21, N° 1, Fall, pp: 111-33.
Kregel, J.A. (1998b). "Derivative and Global Capital Flows: Application to Asia," Cambridge Journal of Economics, 22, pp.677-92.
Kregel, J.A. (2003). “Krugman on the liquidity trap: why inflation won’t bring recovery in Japan.” In Arena, R. and N. Salvadori (eds.), Money, Credit, and the Role of the State, Aldershot: Ashgate, pp.: 223-236.
Kregel, J.A., and A.S. Eichner (1975), “Post-Keynesian Economic
Theory: A New Paradigm in Economics?” Journal of Economic Literature,
Vol. 13, N° 4, December, pp: 1293-1314.
Kregel, J.A., Matzner, E. and Grabher, G. (1992), Market
Shock: An Agenda for Economic and Social Reconstruction of Central and
Eastern Europe. Ann Arbor: University of Michigan Press.