Publications
Conference Proceedings
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Conference Proceedings | April 2018A conference organized by the Levy Economics Institute of Bard College
The proceedings include the 2017 conference program, transcripts of keynote speakers’ remarks, synopses of the panel sessions, and biographies of the participants.Download:Associated Program(s):Author(s):Michael StephensRelated Topic(s):
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Conference Proceedings | April 2017
A conference organized by the Levy Economics Institute of Bard College with support from the Ford Foundation
The 2016 Minsky Conference addressed 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. The proceedings include the conference program, transcripts of keynote speakers’ remarks, synopses of the panel sessions, and biographies of the participants.
Download:Associated Program(s):Author(s):Barbara Ross Michael Stephens -
Conference Proceedings | November 2015
A conference organized by the Levy Economics Institute of Bard College with support from the Ford Foundation
The 2015 Minsky Conference addressed, among other issues, the design, flaws, and current status of the Dodd-Frank Wall Street Reform Act, including implementation of the operating procedures necessary to curtail systemic risk and prevent future crises; the insistence on fiscal austerity exemplified by the recent pronouncements of the new Congress; the sustainability of the US economic recovery; monetary policy revisions and central bank independence; the deflationary pressures associated with the ongoing eurozone debt crisis and their implications for the global economy; strategies for promoting an inclusive economy and a more equitable income distribution; and regulatory challenges for emerging market economies. The proceedings include the conference program, transcripts of keynote speakers’ remarks, synopses of the panel sessions, and biographies of the participants.
Download:Associated Program(s):Author(s):Barbara Ross Michael Stephens -
Conference Proceedings | August 2015
A conference coorganized by the Levy Economics Institute of Bard College and Economia Civile with support from the Ford Foundation, the Friedrich-Ebert-Stiftung, and Marinopoulos AE
Athens, Greece
November 21–22, 2014This conference was organized as part of the Levy Institute’s international research agenda and in conjunction with the Ford Foundation Project on Financial Instability, which draws on Hyman Minsky’s extensive work on the structure of financial systems to ensure stability, and on the role of government in achieving a growing and equitable economy.
Among the key topics addressed: systemic instability in the eurozone; proposals for banking union; regulation and supervision of financial institutions; monetary, fiscal, and trade policy in Europe, and the spillover effects for the US and global economies; the impact of austerity policies on US and European markets; and the sustainability of government deficits and debt.
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Conference Proceedings | November 2014A conference organized by the Levy Economics Institute with support from the Ford Foundation
In the context of a sluggish economic recovery and global uncertainty, with growth and employment well below normal levels, the 2014 Minsky Conference addressed both financial reform and prosperity, drawing from Hyman Minsky’s work on financial instability and his proposal for achieving full employment. Panels focused on the design of a new, more robust, and stable financial architecture; fiscal austerity and the sustainability of the US and European economic recovery; central bank independence and financial reform; the larger implications of the eurozone debt crisis for the global economic system; the impact of the return to more traditional US monetary policy on emerging markets and developing economies; improving governance of the social safety net; the institutional shape of the future financial system; strategies for promoting an inclusive economy and more equitable income distribution; and regulatory challenges for emerging-market economies. The proceedings include the conference program, transcripts of keynote speakers’ remarks, synopses of the panel sessions, and biographies of the participants.Download:Associated Program(s):Author(s):Barbara Ross Michael Stephens -
Conference Proceedings | August 2014This conference was organized as part of the Levy Institute’s international research agenda and in conjunction with the Ford Foundation Project on Financial Instability, which draws on Hyman Minsky’s extensive work on the structure of financial systems to ensure stability, and the role of government in achieving a growing and equitable economy.Among the key topics addressed: the challenges to global growth and employment posed by the continuing eurozone debt crisis; the impact of austerity on output and employment; the ramifications of the credit crunch for economic and financial markets; the larger implications of government deficits and debt crises for US and European economic policies; and central bank independence and financial reform.
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Conference Proceedings | April 2014Cosponsored by the Levy Economics Institute of Bard College and MINDS – Multidisciplinary Institute for Development and Strategies, with support from the Ford Foundation
Everest Rio Hotel
Rio de Janeiro, Brazil
September 26–27, 2013
This conference was organized as part of the Levy Institute’s global research agenda and in conjunction with the Ford Foundation Project on Financial Instability, which draws on Hyman Minsky's extensive work on the structure of financial governance and the role of the state. Among the key topics addressed: designing a financial structure to promote investment in emerging markets; the challenges to global growth posed by continuing austerity measures; the impact of the credit crunch on economic and financial markets; and the larger effects of tight fiscal policy as it relates to the United States, the eurozone, and the BRIC countries.Download:Associated Program:Related Topic(s): -
Conference Proceedings | July 2013A conference organized by the Levy Economics Institute of Bard College with support from the Ford FoundationThe 2013 Minsky Conference addressed both financial reform and poverty in the context of Minsky’s work on financial instability and his proposal for a public job guarantee. Panels focused on the design of a new, more robust, and stable financial architecture; fiscal austerity and the sustainability of the US economic recovery; central bank independence and financial reform; the larger implications of the eurozone debt crisis for the global economic system; improving governance of the social safety net; the institutional shape of the future financial system; strategies for promoting poverty eradication and an inclusive economy; sustainable development and market transformation; time poverty and the gender pay gap; and policy and regulatory challenges for emerging-market economies. The proceedings include the conference program, transcripts of keynote speakers’ remarks, synopses of the panel sessions, and biographies of the participants.Download:Associated Program(s):Author(s):Barbara Ross Michael Stephens
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Conference Proceedings | March 2013
Debt, Deficits, and Unstable Markets
Organized by the Levy Economics Institute and ECLA of Bard with support from the Ford Foundation, The German Marshall Fund of the United States, and Deutsche Bank AG
Deutsche Bank AG
Berlin, Germany
November 26–27, 2012
The purpose of this conference was to gain a better understanding of the causes of financial instability and its implications for the global economy. Key topics included the challenge to global growth affected by the eurozone debt crisis; the impact of the credit crunch on economic and financial markets; the larger implications of government deficits and the debt crisis for US, European, and Asian economic policy; and central bank independence and financial reform.Download:Associated Program: -
Conference Proceedings | September 2012
21st Annual Hyman P. Minsky Conference on the State of the US and World Economies
View More View LessDebt, Deficits, and Financial Instability
A conference organized by the Levy Economics Institute of Bard College with support from the Ford Foundation
The 2012 Minsky conference addressed the ongoing and far-reaching effects of the global financial crisis, including the challenge to global growth represented by the eurozone debt crisis, the impact of the credit crunch on the economic and financial markets outlook, the sustainability of the US economic recovery in the absence of support from monetary and fiscal policy, reregulation of the financial system and the design of a new financial architecture, and the larger implications of the debt crisis for US economic policy—and for the international financial and monetary system as a whole.
Download:Associated Program(s):Author(s):Barbara Ross Michael Stephens -
Conference Proceedings | November 2011
20th Annual Hyman P. Minsky Conference on the State of the US and World Economies
View More View LessFinancial Reform and the Real Economy
A conference organized by the Levy Economics Institute of Bard College with support from the
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This year’s Minsky conference marks the Levy Institute’s 25 anniversary, and the third year of the Ford–Levy joint initiative on reforming global financial governance. This initiative aims to examine financial instability and reregulation within the theoretical framework of Minsky’s work on financial crises. Minsky was convinced that a program of financial reform must be based on a critique of the existing system that identifies not only what went wrong, but also why it happened. Speakers addressed the ongoing effects of the global financial crisis on the real economy, and examined proposed as well as recently enacted policy responses. Should ending too-big-to-fail be the cornerstone of reform? Do the markets’ pursuit of self-interest generate real societal benefits? Is financial sector growth actually good for the real economy? Will the recently passed US financial reform bill make the entire financial system, not only the banks, safer?Download:Associated Program(s): -
Conference Proceedings | July 2010
19th Annual Hyman P. Minsky Conference on the State of the US and World Economies
View More View LessAfter the Crisis: Planning a New Financial Structure
A conference organized by the Levy Economics Institute of Bard College with support from the.
On April 14–16, more than 200 policymakers, economists, and analysts from government, industry, and academia gathered at the NYC headquarters of the Ford Foundation for the Levy Institute’s annual Minsky conference on the state of the US and world economies. This year’s conference drew upon many Minskyan themes, including reconstituting the financial structure; the reregulation and supervision of financial institutions; the relevance of the Glass-Steagall Act; the roles of the Federal Reserve, FDIC, and the Treasury; the moral hazard of the “too big to fail” doctrine; debt deflation; and the economics of the “big bank” and “big government.” Speakers compared the European and Latin American responses to the global financial crisis and proposals for reforming the international financial architecture. Moreover, central bank exit strategies, both national and international, were considered.Download:Associated Program(s): -
Conference Proceedings | June 2009
Responding to the Current Economic Crisis and Contributing to Long-Term Development
A Collaborative Project of the United Nations Development Programme, Regional Bureau for Latin America and the Caribbean (RBLAC), and the Bureau for Development Policy (BDP), in Partnership with The Levy Economics Institute.
The Levy Economics Institute, Blithewood, Annandale-on-Hudson, New York
June 22–23, 2009.With poverty, inequality, and unemployment trending upward worldwide, job creation, especially for marginalized populations, is urgently needed. By mobilizing unused domestic labor resources, direct job creation can become an engine of pro-poor growth while also promoting gender equality and meeting social inclusion targets—key international development goals. Public works projects, employment guarantees, and employment of last resort strategies can play a crucial role in reducing unemployment and poverty, ameliorating distress migration and delivering physical infrastructure and social services in ways that particularly benefit underserved communities.
On June 22 and 23, The Levy Economics Institute, in partnership with the United Nations Development Programme (UNDP), convened an international conference to present the merits and challenges of public job creation programs as a constitutive component of an economic recovery strategy. Titled “Employment Guarantee Policies: Responding to the Current Economic Crisis and Contributing to Long-Term Development,” the conference was held at Blithewood, the Institute’s main research and conference facility, on the campus of Bard College in Annandale-on-Hudson, New York. More than 30 top policy advisers, members of government organizations, academics, and international development specialists met to analyze and exchange views on various public employment initiatives, drawing on existing research and the outcomes of country-level programs in South Africa, Argentina, India, Iran, and Chile.
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Conference Proceedings | April 2009
18th Annual Hyman P. Minsky Conference on the State of the US and World Economies
View More View LessMeeting the Challenges of Financial Crisis
A conference organized by The Levy Economics Institute of Bard College with support from the Ford Foundation.
On April 16 and 17, more than 150 policymakers, economists, and analysts from government, industry, and academia gathered at the NYC headquarters of the Ford Foundation for the Levy Institute’s annual Minsky conference on the state of the US and world economies. This year’s conference focused on the extraordinary challenges posed by the current global financial crisis. Topics included current conditions and forecasts, macro policy proposals by the Obama administration and others, the rehabilitation of mortgage financing and the banks, financial market reregulation, proposals to limit foreclosures and modify servicing agreements, regulation of alternative financial products (derivatives and credit default swaps), the institutional shape of the future financial system, and international responses to the crisis.
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Conference Proceedings | April 2008
17th Annual Hyman P. Minsky Conference on the State of the US and World Economies
View More View LessCredit, Markets, and the Real Economy: Is the Financial System Working?
In April 2008, top policymakers, economists, and analysts from government, industry, and academia gathered at the Levy Institute’s research and conference facility in Annandale-on-Hudson, New York, to present their insights about the American economy and the financial sector in the context of Minsky’s economic theories. Participants discussed Minsky’s financial instability hypothesis and the ability of monetary policy to stabilize financial markets and the economy, as well as the role of the Federal Reserve and its ability to function as a systemic lender of last resort. Speakers frequently compared events in the 1930s (the New Deal era) to the present, and they considered the prospect of another debt deflation rivaling the Great Depression. They also examined today’s complex and fragile financial system (e.g., the advent of securitization) and potential solutions to the mortgage crisis. Other related topics included the timing, cause, and length of recession; the nature and effectiveness of proposed economic stimulus packages; regulatory failures and the reformulation of policy; and the deleveraging process and potential financial losses.
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Conference Proceedings | April 2007
16th Annual Hyman P. Minsky Conference on the State of the US and World Economies
View More View LessGlobal Imbalances: Prospects for the U.S. and World Economies
The 2007 Hyman P. Minsky Conference focused on monetary and fiscal policies for continued growth and employment; currency markets fluctuations and the consequent exchange-rate misalignments, as well as possible cures; and the United States' households and trade deficits, their implications for growth and employment, and their effect on the conduct of monetary and fiscal policy. The US role in the global marketplace was examined in view of the current international economic landscape.
The conference was held April 19–20, 2007, at the Levy Institute’s research and conference center at Blithewood on the campus of Bard College, Annandale-on-Hudson, N.Y.
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Conference Proceedings | October 2006
A Conference of The Levy Economics Institute of Bard College
The focus of this conference is on government policy initiatives that can create a safety net through public service employment for individuals who are ready, willing, and able to work but find themselves in an economic environment that does not offer employment opportunities.
Our premise is that unemployment and involuntary "inactivity" are structural macroeconomic problems of both developed and developing economies. The negative effects of unemployment reach beyond the immediate economic losses to individuals and their families and to the potential growth of the economy. Joblessness is often accompanied by poor health and psychological problems, depreciation of human capital, social exclusion, and overall lack of motivation for future work.
Protracted periods of unemployment lead to multidimensional poverty, deterioration of communities, erosion of decent job conditions, and intolerance along racial and gender divides. There appears a connection, then, between the right to work and the role of government in guaranteeing employment, and this ought to be part of the public policy dialogue
In this conference academics and policy analysts present research findings and exchange views on:
- Past and current country-level experiences of employment guarantee programs
- Public service employment and price stability
- Public job creation programs that can substitute for unpaid work disproportionately carried out by women and children
- Feasibility of implementing public service employment programs
- Improving the design and effectiveness of existing programs
- Designing tools useful for policy and impact analysis including time-use surveys and economic modeling
- The effects of public service employment in promoting gender equality and pro poor growth
Access to employment is important for all countries in that it can be a contributing factor in ameliorating poverty and social exclusion and in promoting economic development. For other countries, achieving the Millennium Development Goals provides a timely opportunity to assess the impact that employment guarantee schemes have had thus far, and analyze their potential impact for the future.
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Conference Proceedings | August 2006
UNDP, BDP – Levy Conference, “Unpaid Work and the Economy: Gender, Poverty, and the Millennium Development Goals ” Gender, Poverty, and the Millennium Development Goals”
View More View LessBureau for Development Policy, UNDP
in partnership with
The Levy Economics Institute of Bard CollegeThe conference on Unpaid Work and the Economy: Gender, Poverty, and the Millennium Development Goals was organized by the Bureau for Development Policy, United Nations Development Programme, in partnership with The Levy Economics Institute. The purpose of convening this conference was to share views, research, and methodologies from around the world, on women’s unpaid work and its relationship to the economy within the context of pro-poor development policies, an issue that is critical in achieving the Millennium Development Goals (MDGs). Women’s unpaid work consists of time spent on unpaid care for members of their families and communities. It also consists of time spent to make up for deficiencies in public infrastructure, including in the energy, health, and sanitation sectors. Such activities range from providing long term care to the chronically ill to fetching water and firewood.
During the last decade, an increasing number of countries have collected time-use data, and some have developed satellite accounts in order to measure the economic contributions of unpaid work. These efforts notwithstanding, unpaid work, which is disproportionately carried out by women and children, has not been sufficiently integrated in the formulation of public investment policies and pro-poor alternative macroeconomic strategies. In most developing countries, efforts to reduce poverty and reach the MDGs provide a timely opportunity to draw attention to the linkages between unpaid work and economic and social development. During the conference, several presenters focused on unpaid work and its connection to employment generation policies, inequality and poverty, deterioration of economic well being, and trade impact assessment. Other researchers presented up to date assessments of the state of the art in the areas of conducting time-use surveys, constructing satellite accounts, and developing economic models that include unpaid work.
The conference was held on October 1–3, 2005, at the Levy Institute’s research and conference center at Blithewood on the campus of Bard College, Annandale-on-Hudson, New York.
Associated Program: -
Conference Proceedings | October 2005
Gender, Poverty, and the Millennium Development Goals
Organized by the Bureau for Development Policy, United Nations Development Programme, in partnership with The Levy Economics Institute of Bard College
View Conference WebsiteThe purpose of convening this conference was to share views, research, and methodologies from around the world on women’s unpaid work and its relationship to the economy within the context of pro-poor development policies. This issue is critical to achieving the Millennium Development Goals (MDGs) set forth at the United Nations summit in September 2000.
Women’s unpaid work consists of time spent on unpaid care for members of their families and communities. It also consists of time spent to make up for deficiencies in public infrastructure, including in the energy, health, and sanitation sectors. Such activities range from providing long-term care to the chronically ill to fetching water and firewood.
During the last decade, an increasing number of countries have collected time-use data, and some have developed satellite accounts in order to measure the economic contributions of unpaid work. These efforts notwithstanding, unpaid work, which is disproportionately carried out by women and children, has not been sufficiently integrated in the formulation of public investment policies and pro poor alternative macroeconomic strategies. In most developing countries, efforts to reduce poverty and reach the MDGs provide a timely opportunity to draw attention to the linkages between unpaid work and economic and social development. Several presenters focused on unpaid work and its connection to employment generation policies, inequality and poverty, deterioration of economic wellbeing, and trade impact assessment. Others presented up-to-date assessments of the state of the art in the areas of conducting time-use surveys, constructing satellite accounts, and developing economic models that include unpaid work.
The conference was held October 1–3, 2005, at the Levy Institute’s research and conference center at Blithewood on the campus of Bard College, Annandale-on-Hudson, N.Y.
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Conference Proceedings | April 2005
15th Annual Hyman P. Minsky Conference on the State of the US and World Economies
View More View LessEconomic Imbalance: Fiscal and Monetary Policy for Sustainable Growth
Participants at the 15th Annual Hyman P. Minsky Conference offered their viewpoints on the American economy's recovery following a short-lived recession, policy guidelines to be considered within the context of current economic trends, and the implications for both the national economy and international economies. What are the monetary and fiscal policy prescriptions for growth, employment, and price stability? The presenters come from business, government, and the academy. They are uniquely qualified to offer their insights on these issues.
The conference was held April 21–22, 2005, at the Levy Institute's research and conference center at Blithewood on the campus of Bard College, Annandale-on-Hudson, N.Y.
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Conference Proceedings | April 2004
Can the Recovery Be Sustained? U.S. and International Perspectives
Topics at the 2004 Minsky conference included fiscal and monetary policies for the expansion of national economies as well as the global economy; exchange rate misalignments resulting from "brutal" gyrations in the currency markets, and their possible cures; and trade and capital flows as they might impinge upon the conduct of monetary and fiscal policies. The international economic role of the United States was also examined.
The conference was held April 23–24, 2004, at the Levy Institute’s research and conference center at Blithewood on the campus of Bard College, Annandale-on-Hudson, New York.
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Conference Proceedings | April 2003
13th Annual Hyman P. Minsky Conference on the State of the US and World Economies
View More View LessEconomic Policy for Sustainable Growth
The 13th Annual Hyman P. Minsky conference, held April 15, 2003, at the Hilton New York, focused on the uncertainty surrounding the United States' recent economic recovery, as well as the monetary and fiscal policy prescriptions for renewed growth, employment, and price stability.
These proceedings were published as part of the Summer 2003 Summary.
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Conference Proceedings | April 2002
Recession and Recovery: Economic Policy in Uncertain Times
At the 12th annual Minsky conference, held at the Roosevelt Hotel in New York City on April 25, 2002, 100 participants from government, business, and the academy gathered to discuss the current state of the United States' economy and its future direction. Many of the speakers advanced the notion that the recession was over, that it was one of the mildest on record, and that a moderate economic recovery was unfolding. Others, including Distinguished Scholar Wynne Godley, expressed doubts, pointing to a number of challenges ahead—for example, record-high private sector debt, waning profits, high financial leverages, outlandishly flexible accounting, current account deficits, and the bubble mentality. Finally, some presenters noted the strong underlying structure of the US economy and pro-growth economic policies that mitigated the impact of a number of shocks over a short period of time.
These proceedings were published as part of the June 2002 Report.
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Conference Proceedings | April 2001
Can the Financial Structure Avert an Economic Downturn?
The 11th annual Minsky conference, held April 26–27, 2001, at the Levy Institute’s research and conference center on the campus of Bard College in Annandale-on-Hudson, New York, centered on the slowdown in the United States and its implications for world economic growth, options for stabilization policy, and the dynamics of global financial crises. The conference was
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Conference Proceedings | October 2000
Undertaken in conjunction with the University of Texas Inequality Project and supported by the Ford Foundation, this conference afforded participants an opportunity to exchange new ideas and research results on the measurement of inequality, and the relationship between inequality and unemployment, economic growth, and economic development. The conference was held October 28–29, 2000, at the Levy Institute’s research and conference center on the campus of Bard College, Annandale-on-Hudson, New York.
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Conference Proceedings | June 2000
Coordinated by Senior Scholar Edward N. Wolff of the Levy Institute and New York University, this conference examined wealth trends, and extremes, in the United States in the 1990s. The conference was held June 7–9, 2000, at the Levy Institute's research and conference center at Blithewood on the campus of Bard College, Annandale-on-Hudson, New York.
These proceedings were published as part of the September 2000 Report.
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Conference Proceedings | April 2000
The Liberalization of Financial Markets: National and International Perspectives
Minsky’s research, writing, and speeches focused on the causes and consequences of the financial vulnerabilities inherent in advanced and complex capitalist economies and on the policy implications emanating from this systemic fragility. This conference—the Institute’s 10th such gathering—commemorated Minsky by addressing issues related to the need to continuously assess the fragility and structure of the financial sector. The papers and presentations focused on a variety of issues: the liberalization of financial markets, the financial and regulatory landscape evolving in the wake of the passage of the Gramm-Leach-Bliley act, the continued controversy over how to build a global financial architecture, and the dangerous reliance of the New Economy on the irrational exuberance that permeated the equities market.
The conference was held April 27–28, 2000, at the Levy Institute’s research and conference center at Blithewood on the campus of Bard College, Annandale-on-Hudson, New York.
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Conference Proceedings | April 1999
Structure, Instability, and the World Economy: Reflections on the Economics of Hyman P. Minsky
The objective of the Ninth Annual Hyman P. Minsky Conference on Financial Structure was to determine the extent to which domestic and global economic events coincided with the types of instabilities Minsky describes, and to analyze his policy recommendations to alleviate instability and other economic problems. The conference was held April 21–23, 1999, at the Levy Institute’s research and conference center at Blithewood on the campus of Bard College, Annandale-on-Hudson, New York,
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Conference Proceedings | September 1998
The purpose of this symposium, held September 24, 1998, at the Levy Institute’s research and conference center on the campus of Bard College in Annandale-on-Hudson, New York, was to explore the causes and consequences of the persistence of poverty, and to examine policies that might rectify the inequitable distribution of the gains of economic success.
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Conference Proceedings | June 1998
This symposium examined the claim by information technology companies that the industry faced a shortage of qualified workers, and considered policy approaches to meeting current and future demands for qualified labor. The symposium was held on June 12, 1998, at the Levy Institute’s research and conference center at Blithewood on the campus of Bard College, Annandale-on-Hudson, New York.
These proceedings were published as part of the Fall 1998 Summary.
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