28th Annual Hyman P. Minsky Conference

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, 2019

As the US economy enters what appears to be a historically long postcrisis expansion, there are increasing signs of deceleration against the backdrop of a looming global recession. Marking the 100-year anniversary of Hyman Minsky’s birth, the 28th Annual Minsky Conference highlighted the possibility of increasing financial instability and the challenge of developing policies to meet the rising risk of recession. Speakers from government regulatory bodies, the private sector, and academia shed light on conditions in the US and Europe, with special emphasis on the impact of the Trump administration’s policies with regards to a possible repeat of the 2008 financial crisis. The highlights of the conference included presentations by the President of the Federal Reserve Bank of St. Louis and the First Vice President of the Federal Reserve Bank of Minneapolis; European conditions were the focus of the former Governor of the Central Bank of Cyprus, while private sector analysts from hedge funds and policy think-tanks assessed the potential for current economic policies to confront the challenge of prolonging the recovery. Particular emphasis was given to the analysis of the increasing stock of private corporate debt and rising house prices, which in both the US and Europe have reached levels similar to or higher than those seen before the Great Recession.

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

Program

Preliminary Program

Wednesday, April 17, 2019

8:30−9:00 a.m.	Registration
9:00−9:15 a.m.	Welcome and Introduction
	Dimitri B. Papadimitriou, President, Levy Institute Link to audio Remarks in PDF
9:15−10:45 a.m.	Session 1. OUTLOOK FOR REFORM OF THE EURO SYSTEM
	Link to session audio     Link to session Q&A MODERATOR: L. Randall Wray, Senior Scholar, Levy Institute; Professor of Economics, Bard College
	SPEAKERS: Panicos Demetriades, Professor of Financial Economics, University of Leicester; formerly, Governor, Central Bank of Cyprus PowerPoint presentation in PDF
	Lex Hoogduin, Chairman LCH Ltd. and SA; Professor of Complexity and Uncertainty, University of Groningen
	Jan Kregel, Director of Research, Levy Institute PowerPoint presentation in PDF
10:45 a.m.−12:30 p.m.	Session 2. DOMESTIC FINANCIAL POLICY
	Link to session audio     Link to session Q&A MODERATOR: Jan Kregel, Director of Research, Levy Institute
	SPEAKERS: Seth B. Carpenter, Managing Director and Chief U.S. Economist, UBS
	Michael Greenberger, Professor, School of Law, and Director, Center for Health and Homeland Security, University of Maryland
	Daniel Alpert, Managing Partner, Westwood Capital, LLC
	L. Randall Wray, Senior Scholar, Levy Institute; Professor of Economics, Bard College
12:30−1:30 p.m.	SPEAKER: James Bullard, President and CEO, Federal Reserve Bank of St. Louis
	PowerPoint presentation in PDF Link to audio Link to audio of Q&A
1:30−2:45 p.m.	Lunch
2:45−3:45 p.m.	SPEAKER: Ron Feldman, First Vice President, Federal Reserve Bank of Minneapolis
	PowerPoint presentation in PDF
	Link to audio of remarks
3:45−5:15 p.m.	Link to audio of Q&A Session 3. US ECONOMIC OUTLOOK
	Link to session audio     Link to session Q&A MODERATOR: Dimitri B. Papadimitriou, President, Levy Institute
	SPEAKERS: Michalis Nikiforos, Research Scholar, Levy Institute
	Catherine L. Mann, Global Chief Economist, Citibank
	Lakshman Achuthan, Co-founder and Chief Operations Officer, Economic Cycle Research Institute PowerPoint presentation in PDF
5:15−6:30 p.m.	Session 4. US FINANCIAL FRAGILITY OUTLOOK
	Link to session audio     Link to session Q&A MODERATOR: Michalis Nikiforos, Research Scholar, Levy Institute
	SPEAKERS: Bruce C. N. Greenwald, Robert Heilbrunn Professor of Finance and Asset Management, Columbia University
	Frank Veneroso, President, Veneroso Associates, LLC PowerPoint presentation in PDF
6:30−8:00 p.m.	Dinner
	SPEAKER: Paul McCulley, Senior Fellow, Financial Macroeconomics, Cornell Law School; formerly, Chief Economist and Managing Director, PIMCO Link to audio of remarks