<?xml version="1.0" encoding="utf-8"?>
<rss version="2.0">
<channel>
<title>Levy Economic Institute of Bard College News Wire</title>
<link>http://www.levyinstitute.org/publications/</link>
<description>The latest publications from The Levy Economic Institute.</description>
<copyright>(c) 2012 The Levy Economic Institute, All Rights Reserved</copyright>
<ttl>60</ttl>
<pubDate>Sat, 04 Feb 2012 04:12:12 -0500</pubDate>
<lastBuildDate>Sat, 04 Feb 2012 04:12:12 -0500</lastBuildDate>
<language>en-us</language>





















<item>
<title><![CDATA[Delaying the Next Global Meltdown]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1480]]></link>
<guid isPermaLink="false">1480</guid>
<pubDate>Fri, 03 Feb 2012 13:42:00 -0500</pubDate>
<description><![CDATA[It's a mistake to interpret the unfolding disaster in Europe as primarily a "sovereign debt crisis." The underlying problem is not periphery profligacy, but rather the very setup of the European Monetary Union (EMU)-a setup that even now prevents a satisfactory resolution to this crisis.]]></description>
</item>
<item>
<title><![CDATA[What Do Poor Women Want? Public Employment or Cash Transfers?: Lessons from Argentina]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1479]]></link>
<guid isPermaLink="false">1479</guid>
<pubDate>Fri, 03 Feb 2012 10:03:00 -0500</pubDate>
<description><![CDATA[The literature on public employment policies such as the job guarantee (JG) and the employer of last resort (ELR) often emphasizes their macroeconomic stabilization effects. But carefully designed and implemented policies like these can also have profound social transformative effects.]]></description>
</item>
<item>
<title><![CDATA[Imbalances? What Imbalances?: A Dissenting View]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1478]]></link>
<guid isPermaLink="false">1478</guid>
<pubDate>Fri, 27 Jan 2012 12:19:00 -0500</pubDate>
<description><![CDATA[It is commonplace to link neoclassical economics to 18th- or 19th-century physics and its notion of equilibrium, of a pendulum once disturbed eventually coming to rest. Likewise, an economy subjected to an exogenous shock seeks equilibrium through the stabilizing market forces unleashed by the invisible hand.]]></description>
</item>
<item>
<title><![CDATA[Η χρηματοπιστωτική κατάσταση
του δημόσιου τομέα της Ελλάδας: Είναι βιώσιμη;]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1477]]></link>
<guid isPermaLink="false">1477</guid>
<pubDate>Fri, 13 Jan 2012 11:04:00 -0500</pubDate>
<description><![CDATA[]]></description>
</item>
<item>
<title><![CDATA[Report January 2012]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1476]]></link>
<guid isPermaLink="false">1476</guid>
<pubDate>Wed, 11 Jan 2012 12:46:00 -0500</pubDate>
<description><![CDATA[Papers highlighted in the January issue include a new Strategic Analysis that justifies fears of prolonged stagnation and flat employment, proposals to resolve problems in the eurozone, recommendations for avoiding another global financial crisis, the Levy Institute Measure of Time and Income Poverty, gender inequalities in work time, and the economic impact of legalizing undocumented immigrants in the United States.
NEW STRATEGIC ANALYSIS

    Is the Recovery Sustainable?]]></description>
</item>
<item>
<title><![CDATA[Need Jobs? Call On Government: By Dimitri B. Papadimitriou]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1475]]></link>
<guid isPermaLink="false">1475</guid>
<pubDate>Tue, 10 Jan 2012 11:50:00 -0500</pubDate>
<description><![CDATA[January 5, 2012. Copyright   2012, Los Angeles Times
International experience shows that direct job creation by governments is one of the very few options that has succeeded at raising employment levels more than just marginally during a crisis.]]></description>
</item>
<item>
<title><![CDATA[A Comparison of Inequality and Living Standards in Canada and the United States Using an Expanded Measure of Economic Well-Being]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1474]]></link>
<guid isPermaLink="false">1474</guid>
<pubDate>Fri, 06 Jan 2012 09:55:00 -0500</pubDate>
<description><![CDATA[We use the Levy Institute Measure of Economic Well-being (LIMEW), the most comprehensive income measure available to date, to compare economic well-being in Canada and the United States in the first decade of the 21st century. This study represents the first international comparison based on LIMEW, which differs from the standard measure of gross money income (MI) in that it includes noncash government transfers, public consumption, income from wealth, and household production, and nets out all personal taxes.]]></description>
</item>
<item>
<title><![CDATA[The Euro Imbalances and Financial Deregulation: A Post-Keynesian Interpretation of the European Debt Crisis]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1473]]></link>
<guid isPermaLink="false">1473</guid>
<pubDate>Fri, 06 Jan 2012 09:52:00 -0500</pubDate>
<description><![CDATA[Conventional wisdom suggests that the European debt crisis, which has thus far led to severe adjustment programs crafted by the European Union and the International Monetary Fund in both Greece and Ireland, was caused by fiscal profligacy on the part of peripheral, or noncore, countries in combination with a welfare state model, and that the role of the common currency-the euro-was at best minimal.This paper aims to show that, contrary to conventional wisdom, the crisis in Europe is the result of an imbalance between core and noncore countries that is inherent in the euro economic model.]]></description>
</item>
<item>
<title><![CDATA[Women, Schooling, and Marriage in Rural Philippines]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1472]]></link>
<guid isPermaLink="false">1472</guid>
<pubDate>Fri, 23 Dec 2011 09:29:00 -0500</pubDate>
<description><![CDATA[Using data from the Bicol region of the Philippines, we examine why women are more educated than men in a rural, agricultural economy in which women are significantly less likely than men to participate in the labor market. We hypothesize that educational homogamy in the marriage market and cross-productivity effects in the household allow Filipino women to reap substantial benefits from schooling regardless of whether they enter the labor market.]]></description>
</item>
<item>
<title><![CDATA[Is There Room for Bulls, Bears, and States in the Circuit?]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1471]]></link>
<guid isPermaLink="false">1471</guid>
<pubDate>Thu, 22 Dec 2011 11:42:00 -0500</pubDate>
<description><![CDATA[This paper takes off from Jan Kregel's paper "Shylock and Hamlet, or Are There Bulls and Bears in the Circuit?" (1986), which aimed to remedy shortcomings in most expositions of the "circuit approach.]]></description>
</item>
<item>
<title><![CDATA[Trade and Payments Theory in a Financialized Economy]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1470]]></link>
<guid isPermaLink="false">1470</guid>
<pubDate>Thu, 22 Dec 2011 11:28:00 -0500</pubDate>
<description><![CDATA[Ricardian trade theory was based on the cost of labor at a time when grain and other consumer goods accounted for most subsistence spending. But today's budgets are dominated by payments to the finance, insurance, and real estate (FIRE) sector and to newly privatized monopolies.]]></description>
</item>
<item>
<title><![CDATA[Summary Winter 2012]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1469]]></link>
<guid isPermaLink="false">1469</guid>
<pubDate>Wed, 21 Dec 2011 15:25:00 -0500</pubDate>
<description><![CDATA[The Summary updates current Levy Institute research, with synopses of new publications, accounts of professional presentations by the research staff, and an overview of Levy Institute events. In this issue, papers include a new Strategic Analysis that justifies fears of prolonged stagnation and flat employment, proposals to resolve problems in the eurozone, recommendations for avoiding another global financial crisis, the Levy Institute Measure of Time and Income Poverty, gender inequalities in work time, and the economic impact of legalizing undocumented immigrants in the United States.]]></description>
</item>
<item>
<title><![CDATA[Without Increased Fiscal Stimulus, US Economic Growth Will Remain Weak and Unemployment High, New Levy Study Says]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1468]]></link>
<guid isPermaLink="false">1468</guid>
<pubDate>Wed, 21 Dec 2011 11:22:00 -0500</pubDate>
<description><![CDATA[]]></description>
</item>
<item>
<title><![CDATA[$29,000,000,000,000: A Detailed Look at the Fed’s Bailout of the Financial System]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1467]]></link>
<guid isPermaLink="false">1467</guid>
<pubDate>Thu, 15 Dec 2011 20:55:00 -0500</pubDate>
<description><![CDATA[The extraordinary scope and magnitude of the  financial crisis of 2007-09 induced an extraordinary response by the  Federal Reserve in the fulfillment of its lender-of-last-resort  function. Estimates of the total amount of bailout  funding provided by the Fed have ranged from its own lowball claim of  $1.]]></description>
</item>
<item>
<title><![CDATA[$29,000,000,000,000: A Detailed Look at the Fed’s Bailout by Funding Facility and Recipient]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1462]]></link>
<guid isPermaLink="false">1462</guid>
<pubDate>Fri, 09 Dec 2011 16:43:00 -0500</pubDate>
<description><![CDATA[There have been a number of estimates of the total amount of funding provided by the Federal Reserve to bail out the financial system. For example, Bloomberg recently claimed that the cumulative commitment by the Fed (this includes asset purchases plus lending) was $7.]]></description>
</item>
<item>
<title><![CDATA[A Crisis of Advanced Capitalism?]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1460]]></link>
<guid isPermaLink="false">1460</guid>
<pubDate>Thu, 08 Dec 2011 10:58:00 -0500</pubDate>
<description><![CDATA[As the eurozone crisis continues, and while the US economy continues to muddle through, we need to reexamine what is actually going on, and sharpen our political-economy tools by considering that what may be taking place today in the advanced economies is not just a banking or a financial crisis but a broader crisis of capitalism.]]></description>
</item>
<item>
<title><![CDATA[Austerity Plans Will Not Prevent Collapse of European Monetary Union, Levy Scholars Say]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1463]]></link>
<guid isPermaLink="false">1463</guid>
<pubDate>Tue, 06 Dec 2011 18:53:00 -0500</pubDate>
<description><![CDATA[]]></description>
</item>
<item>
<title><![CDATA[Is the Recovery Sustainable?]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1459]]></link>
<guid isPermaLink="false">1459</guid>
<pubDate>Tue, 06 Dec 2011 16:57:00 -0500</pubDate>
<description><![CDATA[Fiscal austerity is now a worldwide phenomenon, and the global growth slowdown is highly unfavorable for policymakers at the national level. According to our Macro Modeling Team's baseline forecast, fears of prolonged stagnation and a moribund employment market are well justified.]]></description>
</item>
<item>
<title><![CDATA[Europe Leads the World’s Economy to the Cliff: Background Briefing: Ian Masters Interviews Dimitri B. Papadimitriou]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1443]]></link>
<guid isPermaLink="false">1443</guid>
<pubDate>Wed, 30 Nov 2011 10:47:00 -0500</pubDate>
<description><![CDATA[Copyright   2011 KPFK. All Rights Reserved.]]></description>
</item>
<item>
<title><![CDATA[A Moment among the Minskians: By Dan Monaco]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1444]]></link>
<guid isPermaLink="false">1444</guid>
<pubDate>Wed, 30 Nov 2011 09:33:00 -0500</pubDate>
<description><![CDATA[The Straddler, Fall 2011. All content   The Straddler
I
The events leading up to and following the financial crisis in 2008 led to widespread deployment of the term "Minsky Moment," used to describe the painful termination of what Hyman Minsky called "runaway expansion.]]></description>
</item>
<item>
<title><![CDATA[Direct Job Creation for Turbulent Times in Greece]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1458]]></link>
<guid isPermaLink="false">1458</guid>
<pubDate>Wed, 30 Nov 2011 09:05:00 -0500</pubDate>
<description><![CDATA[Countries in crisis round the world face the daunting task of dealing with abrupt increases in unemployment and associated deepening poverty. Greece, in the face of her sovereign debt crisis, has been hit the hardest.]]></description>
</item>
<item>
<title><![CDATA[Biopolitics and Neoliberalism: The Future of the Eurozone]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1442]]></link>
<guid isPermaLink="false">1442</guid>
<pubDate>Tue, 29 Nov 2011 11:06:00 -0500</pubDate>
<description><![CDATA[With the crisis in the eurozone threatening the integrity of the European Union itself. German Chancellor Angela Merkel continues to brush aside calls to permit the European Central Bank to act as lender of last resort, and she remains steadfast against suggestions for the issuing of a eurobond.]]></description>
</item>
<item>
<title><![CDATA[Confusion in Euroland]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1441]]></link>
<guid isPermaLink="false">1441</guid>
<pubDate>Wed, 23 Nov 2011 17:59:00 -0500</pubDate>
<description><![CDATA[As the crisis in Europe spreads, policymakers trot out one inadequate proposal after another, all failing to address the core problem. The possibility of dissolution, whether complete or partial, is looking less and less farfetched.]]></description>
</item>
<item>
<title><![CDATA[Toward a Workable Solution for the Eurozone]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1440]]></link>
<guid isPermaLink="false">1440</guid>
<pubDate>Tue, 22 Nov 2011 17:21:00 -0500</pubDate>
<description><![CDATA[Although it didn't originate with an economist, the malaprop "It's d j  vu all over again" is invariably what springs to mind in the aftermath of virtually any euro summit of the past few years, all of which seem to end with the requisite promise of a so-called "final solution" to the problems posed by the increasingly problematic currency union. But it's hard to get excited about any of the "solutions" on offer, since they steadfastly refuse to acknowledge that the eurozone's problem is fundamentally one of flawed financial architecture.]]></description>
</item>
<item>
<title><![CDATA[Distribution and Growth: A Dynamic Kaleckian Approach]]></title>
<link><![CDATA[http://www.levyinstitute.org/publications/?docid=1439]]></link>
<guid isPermaLink="false">1439</guid>
<pubDate>Tue, 22 Nov 2011 11:15:00 -0500</pubDate>
<description><![CDATA[This paper studies the effects of an (exogenous) increase of nominal wages on profits, output, and growth. Inspired by an article by Michał Kalecki (1991), who concentrated on the effects on total profits, the paper develops a model that explicitly considers the dynamics of demand, prices, profits, and investment.]]></description>
</item>
</channel>
</rss>

