Conference

25th Annual Hyman P. Minsky Conference on the State of the US and World Economies

Will the Global Economic Environment Constrain US Growth and Employment?

Organized by the Levy Economics Institute of Bard College with support from the Ford Foundation

Levy Economics Institute of Bard College
Blithewood
Annandale-on-Hudson, New York 12504

April 12–13, 2016

The 2016 Minsky Conference will address whether what appears to be a global economic slowdown will jeopardize the implementation and efficiency of Dodd-Frank regulatory reforms, the transition of monetary policy away from zero interest rates, and the “new” normal of fiscal policy, as well as the use of fiscal policies aimed at achieving sustainable growth and full employment. Is economic policy leading to another Minsky moment?

Levy on Youtube Click here for video coverage of the individual speakers and panels.

Program

Tuesday, April 12

8:30−9:00 a.m. Registration
9:00−9:15 a.m. Welcome and Introduction
Dimitri B. Papadimitriou, President, Levy Institute
Remarks in PDF
9:15−10:30 a.m. Session 1. GLOBAL FRAGILITY AND EMERGING MARKETS OUTLOOK
MODERATOR: Theo Francis, Special Writer, The Wall Street Journal
SPEAKER: Jan Kregel, Director of Research, Levy Institute; Professor, Tallinn University of Technology
PowerPoint presentation in PDF
Fernando J. Cardim de Carvalho, Senior Scholar, Levy Institute; Emeritus Professor of Economics, Federal University of Rio de Janeiro
PowerPoint presentation in PDF
10:30 a.m. − 12:30 p.m. Session 2. COMMODITIES AND DERIVATIVES REGULATION
MODERATOR: Izabella Kaminska, Journalist, Financial Times
SPEAKERS: Michael Masters, Founder and Chairman of the Board, Better Markets
PowerPoint presentation in PDF
Robert A. Johnson, President, Institute for New Economic Thinking; Senior Fellow and Director, Franklin and Eleanor Roosevelt Institute
12:30−2:15 p.m. Lunch
SPEAKER: Robert J. Barbera, Codirector, Center for Financial Economics, The Johns Hopkins University
“Six Degrees of Separation: Why the Fed’s Strategy of Precautionary Unemployment Is Nutty”
Remarks in PDF
2:15−4:45 p.m. Session 3. IS THE CURRENT CREDIT STRUCTURE CONDUCIVE TO FINANCIALLY STABLE RECOVERY?
MODERATOR: Jesse Eisinger, Senior Reporter, ProPublica
SPEAKERS: Henry Kaufman, President, Henry Kaufman & Company, Inc.
Richard Berner, Director, Office of Financial Research, US Department of the Treasury
Remarks in PDF
Martin L. Leibowitz, Managing Director, Morgan Stanley
Albert M. Wojnilower, Economic Consultant, Craig Drill Capital
Remarks in PDF
4:45−6:45 p.m. Session 4. MINSKY, INEQUALITY, AND THE MONETARY/FISCAL POLICY OUTLOOK
MODERATOR: Jan Kregel, Director of Research, Levy Institute; Professor, Tallinn University of Technology
SPEAKERS: Stephanie A. Kelton, Research Associate, Levy Institute; Chief Economist, US Senate Budget Committee; Professor, University of Missouri—Kansas City
PowerPoint presentation in PDF
Scott Fullwiler, Professor of Economics and James A. Leach Chair in Banking and Monetary Economics, Wartburg College
PowerPoint presentation in PDF
6:45−7:15 p.m. Reception
7:15 p.m. Dinner

Wednesday, April 13

9:00−11:30 a.m. Session 5. US ECONOMIC OUTLOOK FORECAST
MODERATOR: Eduardo Porter, Columnist, The New York Times
SPEAKERS: Lakshman Achuthan, Cofounder and Chief Operations Officer, Economic Cycle Research Institute
PowerPoint presentation in PDF
Bruce C. N. Greenwald, Robert Heilbrunn Professor of Finance and Asset Management, Columbia University
Michalis Nikiforos, Research Scholar, Levy Institute
PowerPoint presentation in PDF
Frank Veneroso, President, Veneroso Associates, LLC
PowerPoint presentation in PDF
11:30 a.m. − 1:30 p.m. Session 6. BANK REGULATION, TOO BIG TO FAIL, AND LIQUIDITY
MODERATOR: Peter Eavis, Reporter, The New York Times
SPEAKERS: Edward Kane, Professor of Finance, Boston College
PowerPoint presentation in PDF
Walker F. Todd, Trustee, American Institute for Economic Research
L. Randall Wray, Senior Scholar, Levy Institute; Professor of Economics, Bard College
PowerPoint presentation in PDF
1:30−3:15 p.m. Lunch
SPEAKER: Barney Frank, Former US Representative (D-MA, 4)
“2016—The Year Class Warfare Became Respectable”
3:15−5:15 p.m. Session 7. EUROPEAN PERFORMANCE AND REGULATORY OUTLOOK
MODERATOR: Thorvald Grung Moe, Research Associate, Levy Institute; Special Adviser, Financial Stability, Norges Bank
SPEAKERS: Mario Tonveronachi, Professor of the Economics of Financial Systems, University of Siena
PowerPoint presentation in PDF
Loukas Tsoukalis, Pierre Keller Visiting Professor, Harvard University
5:15−7:00 p.m. SPEAKER: Vítor Constâncio, Vice President, European Central Bank
“A Challenging International Economic Environment for Central Banks”
Link to Remarks

Participants

Lakshman Achuthan, Cofounder and Chief Operations Officer, Economic Cycle Research Institute

Robert J. Barbera, Codirector, Center for Financial Economics, The Johns Hopkins University

Richard Berner, Director, Office of Financial Research, US Department of the Treasury

Fernando J. Cardim de Carvalho, Senior Scholar, Levy Institute; Emeritus Professor of Economics, Federal University of Rio de Janeiro

Vítor Constâncio, Vice President, European Central Bank

Peter Eavis, Reporter, The New York Times

Jesse Eisinger, Senior Reporter, ProPublica

Theo Francis, Special Writer, The Wall Street Journal

Barney Frank, Former US Representative (D-MA, 4)

Scott Fullwiler, Professor of Economics and James A. Leach Chair in Banking and Monetary Economics, Wartburg College

Bruce C. N. Greenwald, Robert Heilbrunn Professor of Finance and Asset Management, Columbia University

Robert A. Johnson, President, Institute for New Economic Thinking; Senior Fellow and Director, Franklin and Eleanor Roosevelt Institute

Izabella Kaminska, Journalist, Financial Times

Edward Kane, Professor of Finance, Boston College

Henry Kaufman, President, Henry Kaufman & Company, Inc.

Stephanie A. Kelton, Research Associate, Levy Institute; Chief Economist, US Senate Budget Committee; Professor, University of Missouri–Kansas City

Jan Kregel, Director of Research, Levy Institute; Professor, Tallinn University of Technology

Martin L. Leibowitz, Managing Director, Morgan Stanley

Michael Masters, Founder and Chairman of the Board, Better Markets

Thorvald Grung Moe, Research Associate, Levy Institute; Special Adviser, Financial Stability, Norges Bank

Michalis Nikiforos, Research Scholar, Levy Institute

Dimitri B. Papadimitriou, President, Levy Institute

Eduardo Porter, Columnist, The New York Times

Walker F. Todd, Trustee, American Institute for Economic Research

Mario Tonveronachi, Professor of the Economics of Financial Systems, University of Siena

Loukas Tsoukalis, Pierre Keller Visiting Professor, Harvard University

Frank Veneroso, President, Veneroso Associates, LLC

Albert M. Wojnilower, Economic Consultant, Craig Drill Capital

L. Randall Wray, Senior Scholar, Levy Institute; Professor of Economics, Bard College

* Invited

Directions to the Levy Institute

Click here for directions to the Levy Institute.

Accommodations

Special rates for conference participants may be obtained at the following hotels: the Kingston Courtyard by Marriott and the Hampton Inn. The Kingston Courtyard by Marriott is located at 500 Frank Sottile Boulevard, Kingston, NY 12401. Reservations are available only by phone at 845-382-2300 (please mention the Minsky Conference). The Hampton Inn is located at 1307 Ulster Avenue, Kingston, NY 12401. Reservations are available by phone at 845-382-2600 (please ask for the Levy Economics Institute call-in rate; the group code LEV is helpful but not necessary) OR at 1-800-HAMPTON (please mention the Hampton Inn Kingston, the event date, and the group code LEV) OR online at www.kingston.hamptoninn.com (the group code LEV will be needed to access the rate). Transportation to and from these hotels will be provided by the Levy Institute.

Transportation to the Levy Institute

AirTrain from JFK
Use the Jamaica Ave. station for AirTrain service to Penn Station. Take Amtrak from Penn Station (NYP) to Rhinecliff (RHI). Taxis will be waiting upon train arrival to take you to the Levy Institute (75 Blithewood Ave.). web.mta.info/mta/airtrain.htm

Private Car Services
You can hire a private car service to meet you at the airport and take you to the Levy Institute. Below are two regional services that make trips between NYC-area airports and Bard College.

Classic Coach: (845) 229-1000
Black Diamond: (845) 338-8426

Car Rental
If you chose to rent a car and drive yourself, directions can be found using Bing Maps and the address 75 Blithewood Ave., Red Hook, NY 12571. Parking is available at the Levy Institute.

Shuttle Service
There will be a Bard shuttle bus picking up conference attendees from both the Hampton Inn and the Courtyard Marriott in Kingston on both days of the conference.

Tuesday, April 12
Courtyard Marriott
Pickup: 7:45 a.m.

Hampton Inn
Pickup: 8:00 a.m.

Departure back to both hotels from the Levy Institute: 9:15 p.m.

Wednesday, April 13
Courtyard Marriott
Pickup: 7:45 a.m.

Hampton Inn
Pickup: 8:00 a.m.

Departure back to both hotels from the Levy Institute: 7:15 p.m.

Substitutions and Cancellations

If you have registered and cannot attend, you may send a substitute. A full refund will be made if notice of cancellation is received by April 5. No refund will be made after that date. In the event that the conference is canceled, the Institute will refund the full conference fee but cannot be responsible for any other costs incurred. If you wish to update or cancel your registration, or assign a substitute, please use the link provided in your initial confirmation e-mail, or you may e-mail info@levy.org.