Conference | April 17, 2018

27th Annual Hyman P. Minsky Conference

This event has ended.

When

April 17, 2018 - 12:00am
to
April 18, 2018 - 12:00am

Where

Blithewood Manor
30 Campus Rd
12571

A conference organized by the Levy Economics Institute of Bard College

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

April 17–18, 2018

As the annual growth rate of the US economy continues to rise with stable prices and falling unemployment, the global financial system faces a series of historic challenges. Congress seems determined to introduce tax-reform measures designed to provide an additional impulse to the record postcrisis expansion and historically low unemployment rate. At the same time, the administration has launched a series of executive orders rescinding postcrisis financial regulations as Congress debates reform or replacement of the Dodd-Frank legislation that has provided financial stability over the last decade, while the Federal Reserve will be experimenting with the deleveraging of its balance sheet as well as appointing a new chairman of the board in an environment of rising policy interest rates. Finally, the “America First” policy seeks fundamental changes in the current rules-based multilateral framework for international trade, which, if successful, would imply important changes in international financial flows and the position of US financial institutions in global financial markets in the context of China’s strategy of global expansion and structural changes in European and developing-country political and financial systems.

This year’s Minsky conference will thus seek to examine the implications of this unprecedented constellation of policy changes. It is a scenario that Hy Minsky would have considered as providing exposure of risky financial positions entered into during the period of the zero-interest-rate policy and the basis for rising financial fragility.

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

Program

Tuesday, April 17

8:00−8:30 a.m.	Registration
8:30−9:00 a.m.	Welcome and Introduction
	Jan Kregel, Director of Research, Levy Institute Remarks in PDF
9:00−10:30 a.m.	Session 1. US AND GLOBAL ECONOMIC OUTLOOK
	MODERATOR: L. Randall Wray, Senior Scholar, Levy Institute; Professor of Economics, Bard College SPEAKERS: Lakshman Achuthan, Cofounder and Chief Operations Officer, Economic Cycle Research Institute PowerPoint presentation in PDF Philip Suttle, Founder and Principal, Suttle Economics LLC PowerPoint presentation in PDF Michalis Nikiforos, Research Scholar, Levy Institute PowerPoint presentation in PDF
10:30 a.m.–12:00 p.m.	Session 2. EMPLOYER OF LAST RESORT STUDY
	MODERATOR: Peter Coy, Economics Editor, Bloomberg Businessweek SPEAKERS: Pavlina Tcherneva, Research Associate, Levy Institute; Professor of Economics, Bard College PowerPoint presentation in PDF L. Randall Wray, Senior Scholar, Levy Institute; Professor of Economics, Bard College PowerPoint presentation in PDF John F. Henry, Senior Scholar, Levy Institute; Professor Emeritus, California State University, Sacramento; Adjunct Professor, University of Missouri—Kansas City
12:00−2:30 p.m.	Lunch
	SPEAKER: Robert J. Barbera, Co-director, Center for Financial Economics, The Johns Hopkins University
2:30−4:30 p.m.	Session 3. REFORM AND INNOVATION IN FINANCIAL REGULATION AND MONETARY POLICY
	MODERATOR: Matt Phillips, Markets Reporter, The New York Times SPEAKERS: Thomas Ferguson, Director of Research, Institute for New Economic Thinking; Professor Emeritus, University of Massachusetts, Boston; Senior Fellow, Better Markets PowerPoint presentation in PDF Thorvald Grung Moe, Research Associate, Levy Institute; Special Adviser, Norges Bank PowerPoint presentation in PDF Walker F. Todd, Trustee, American Institute for Economic Research (AIER); Lecturer in Finance, Middle Tennessee State University PowerPoint presentation in PDF
4:30−5:00 p.m.	Reception

Wednesday, April 18

9:00−10:30 a.m.	Session 4. GLOBAL FINANCIAL IMPACTS: EUROPE AND LATIN AMERICA
	MODERATOR: Edward Harrison, Founder, Creditwritedowns.com; Global Macro Advisors SPEAKERS: Emilios Avgouleas, Research Associate, Levy Institute; Professor, University of Edinburgh Law School PowerPoint presentation in PDF Joerg Bibow, Professor of Economics, Skidmore College PowerPoint presentation in PDF Rogerio Studart, Professor of Economics, Federal University of Rio de Janeiro, Brazil PowerPoint presentation in PDF
10:30 a.m.−12:00 p.m.	Session 5. AMERICA FIRST: TRADE AND GLOBALIZATION
	MODERATOR: Sophia Lin, Legal and Policy Coordinator, International Corporate Accountability Roundtable SPEAKERS: Robert A. Blecker, Professor of Economics, American University PowerPoint presentation in PDF William Milberg, Dean and Professor of Economics, The New School for Social Research PowerPoint presentation in PDF Todd N. Tucker, Fellow, Roosevelt Institute
12:00−2:30 p.m.	Lunch
2:30−5:00 p.m.	Session 6. TRACKING FINANCIAL FRAGILITY
	MODERATOR: Jan Kregel, Director of Research, Levy Institute SPEAKERS: Robert N. McCauley, Senior Advisor, Bank for International Settlements PowerPoint presentation in PDF Frank Veneroso, President, Veneroso Associates, LLC PowerPoint presentation in PDF

Participants

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

Emilios Avgouleas, Research Associate, Levy Institute; Professor, University of Edinburgh Law School

Robert J. Barbera, Co-director, Center for Financial Economics, The Johns Hopkins University

Joerg Bibow, Professor of Economics, Skidmore College

Robert A. Blecker, Professor of Economics, American University

Peter Coy, Economics Editor, Bloomberg Businessweek

Thomas Ferguson, Director of Research, Institute for New Economic Thinking; Professor Emeritus, University of Massachusetts, Boston; Senior Fellow, Better Markets

Edward Harrison, Founder, Creditwritedowns.com; Global Macro Advisors

John F. Henry, Senior Scholar, Levy Institute; Professor Emeritus, California State University, Sacramento; Adjunct Professor, University of Missouri–Kansas City

Jan Kregel, Director of Research, Levy Institute

Sophia Lin, Legal and Policy Coordinator, International Corporate Accountability Roundtable

Robert N. McCauley, Senior Advisor, Bank for International Settlements

William Milberg, Dean and Professor of Economics, The New School for Social Research

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

Michalis Nikiforos, Research Scholar, Levy Institute

Matt Phillips, Markets Reporter, The New York Times

Rogerio Studart, Professor of Economics, Federal University of Rio de Janeiro, Brazil

Philip Suttle, Founder and Principal, Suttle Economics LLC

Walker F. Todd, Trustee, American Institute for Economic Research (AIER); Lecturer in Finance, Middle Tennessee State University

Pavlina Tcherneva, Research Associate, Levy Institute; Professor of Economics, Bard College

Todd N. Tucker, Fellow, Roosevelt Institute

Frank Veneroso, President, Veneroso Associates, LLC

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